List of Archived Posts

2018 Newsgroup Postings (09/13 - )

IBM's 3033
Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers
IBM ESCON
Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers
Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers
Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers
These Four Predicted The Global Financial Crisis; Here's What They Think Causes The Next One
As Debt Rises, the Government Will Soon Spend More on Interest Than on the Military
The LLC Loophole; In New York, where an LLC is legally a person, companies can use the vehicles to blast through campaign finance limits
A Tea Party Movement to Overhaul the Constitution Is Quietly Gaining
Why Dodd-Frank Is A Protection Racket For Banks
A Tea Party Movement to Overhaul the Constitution Is Quietly Gaining
IBM mainframe today
IBM today
IBM today
A Tea Party Movement to Overhaul the Constitution Is Quietly Gaining
IBM Z and cloud
IBM Z and cloud
IBM mainframe today
A Tea Party Movement to Overhaul the Constitution Is Quietly Gaining
A Tea Party Movement to Overhaul the Constitution Is Quietly Gaining
IBM today
A Tea Party Movement to Overhaul the Constitution Is Quietly Gaining
Financial Sector Data Breaches Soar Despite Heavy Security Spending
LikeWar: The Weaponization of Social Media
LikeWar: The Weaponization of Social Media
America's new aristocracy lives in an accountability-free zone
LikeWar: The Weaponization of Social Media
America's electoral system gives the Republicans advantages over Democrats
America's electoral system gives the Republicans advantages over Democrats
Scientists Just Laid Out Paths to Solve Climate Change. We Aren't on Track to Do Any of Them
US Auto Industry
Banking via home computers/internet is a disaster for the computer world
IBM Disks
The rise and fall of IBM
OT: Postal Service seeks record price hikes to bolster falling revenues
Banking via home computers/internet is a disaster for the computer world
The rise and fall of IBM
The U.S. Needs to Crack Down on White-Collar Crime
The U.S. Needs to Crack Down on White-Collar Crime
America's electoral system gives the Republicans advantages over Democrats
The Great Depression II

IBM's 3033

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: IBM's 3033
Date: 13 Sept 2018
Blog: Facebook

IBM's 3033
https://www-03.ibm.com/ibm/history/exhibits/3033/3033_intro.html

For example, the 3033's first customer -- Singer Company -- which
processed more than 80,000 computing jobs a month at its corporate
data center in Wayne, N.J., found that its new 3033 immediately
provided greater computing capability at then prevailing cost levels
while at the same time supporting the introduction of future data
processing applications, such as a company-wide online reporting
system.

... snip ...

IBM very carefully controlled shipping order by date order
received. The first 3033 was going to be installed in vm370 account
which was going to be great loss of face for POK's favorite son
operating system MVS. Since they couldn't fiddle the shipping order
... but they managed to fiddle the delivery of the machines, so that
the first installation was a MVS customer

With the failure of Future System, there was mad rush to get products
back into the 370 pipeline (370 efforts being shutdown during FS, lack
of 370 offerings during the FS period was credited with giving clone
processor makers market foothold, during this period salesforce had to
maximize their FUD marketing skills). Kicked off in parallel were
quick&dirty 303x and 3081 (XA) efforts. POK also managed to
convince corporate to kill off the vm370 product, shutdown the
burlington mall development group and move everybody to POK to work on
MVS/XA (otherwise MVS/XA wouldn't be able to ship on time).
Eventually, Endicott managed to save the vm/370 product mission, but
had to reconstitute a vm370 development group from scratch.

For 303x, They took 370/158 engine with just integrated channel
microcode and made it 303x external channel processor. A 3031 was a
370/158 engine with just 370 microcode (and no integrated channel
microcode) and a 2nd 370/158 (channel director) with just the
integrated channel microcode (and no 370 microcode). A 3032 was
370/168 engine using 303x (370/158 engine) for external channels. 3033
started out 168 logic remapped to 20% faster chips, other hacks got it
up to 4.5mips (around 50% faster than 168-3). Other FS, 3033, 3081
detail
http://www.jfsowa.com/computer/memo125.htm

Future System posts
http://www.garlic.com/~lynn/submain.html#futuresys

--
virtualization experience starting Jan1968, online at home since Mar1970

Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers

Refed: **, - **, - **
From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers
Blog: Facebook
Date: 13 Sep 2018

re:
http://www.garlic.com/~lynn/2018e.html#109 Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers
http://www.garlic.com/~lynn/2018e.html#110 Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers
http://www.garlic.com/~lynn/2018e.html#111 Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers
http://www.garlic.com/~lynn/2018e.html#112 Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers
http://www.garlic.com/~lynn/2018e.html#112 Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers
http://www.garlic.com/~lynn/2018e.html#114 Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers

Ten Years After the Crash, We've Learned Nothing. The great
financial catastrophe of our times is still badly misunderstood, and
led to grotesque consequences, including the election of Donald Trump
https://www.rollingstone.com/politics/politics-features/financial-crisis-ten-year-anniversary-723798/

Paulson knew as well as anyone. Treasury and the other regulators
received ample warning. Take the Office of Thrift Supervision (OTS), a
regulatory arm of Treasury that happened to oversee two of the worst
basket-cases, Washington Mutual and AIG. According to Bean, the OTS
observed and ignored more than 500 deficiencies in mortgage practices
just at WaMu in the years before the crash.

... snip ...

The U.S. Financial Crisis
https://www.cfr.org/timeline/us-financial-crisis

VP and former CIA director repeatedly claims no knowledge of
http://en.wikipedia.org/wiki/Iran%E2%80%93Contra_affair
because he was fulltime administration point person deregulating
financial industry ... creating S&L crisis
http://en.wikipedia.org/wiki/Savings_and_loan_crisis
along with other members of his family
http://en.wikipedia.org/wiki/Savings_and_loan_crisis#Silverado_Savings_and_Loan
and another
http://query.nytimes.com/gst/fullpage.html?res=9D0CE0D81E3BF937A25753C1A966958260

last decade (after turn of century) another family member is president
and presides over the economic mess 70 times larger than the S&L
crises. S&L crisis had 1000 criminal convictions with jailtime,
proportionally the economic mess should have 70,000.

S&L crises posts
http://www.garlic.com/~lynn/submisc.html#s&l.crises
fiscal responsibility act posts
http://www.garlic.com/~lynn/submisc.html#fiscal.responsibility.act
Economic Mess posts
http://www.garlic.com/~lynn/submisc.html#economic.mess
TBTF (too big to fail, too bit of prosecute, too big to jail) posts
http://www.garlic.com/~lynn/submisc.html#too-big-to-fail
(triple-a rated) toxic CDO posts
http://www.garlic.com/~lynn/submisc.html#toxic.cdo
Fed chairman posts
http://www.garlic.com/~lynn/submisc.html#fed.chairman
ZIRP posts
http://www.garlic.com/~lynn/submisc.html#zirp
'29 crash, Pecora Hearings and/or Glass-Steagall posts
http://www.garlic.com/~lynn/submisc.html#Pecora&/orGlass-Steagall

--
virtualization experience starting Jan1968, online at home since Mar1970

IBM ESCON

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: IBM ESCON
Blog: Facebook
Date: 14 Sep 2018

1980, STL was bursting at the seams and they were moving 300 people
from the IMS group to offsite bldg (with service back into STL
datacenter). They had tried "remote 3270", but found the human factors
totally unacceptable. I get con'ed into doing channel-extender support
... so they can have local channel-attached controllers at the remote
bldg (and not able to tell the difference between human factors in
house STL and at the off-site bldg). The hardware vendor tries to get
IBM to release my support, but there is group in POK playing with some
fiber stuff got it vetoed. In 1988, I'm asked to help LLNL (national
lab) standardize some serial stuff they are playing with, which
quickly becomes Fibre Channel Standard (including some stuff that I
did in 1980). Finally the POK stuff is released in 1990 as ESCON with
ES/9000 when it is already obsolete (half-duplex, lucky if it gets
17mbytes/sec, FCS full-duplex, aggregate 200mbytes/sec). Later some
POK engineers get involved with FCS and define a FCS heavy-weight
protocol that drastically reduces the native throughput, that is
eventually released as FICON. Most recent published peak I/O benchmark
was z196 that used 104 FICON to get 2M IOPS. About the same time, a
FCS was announced for E5-2600 blade claiming over million IOPS (two
such FCS getting higher throughput than 104 FCS running with FICON
protocol).

channel-extender posts
http://www.garlic.com/~lynn/submisc.html#channel.extender
FICON posts
http://www.garlic.com/~lynn/submisc.html#ficon

--
virtualization experience starting Jan1968, online at home since Mar1970

Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers
Blog: Facebook
Date: 14 Sep 2018

re:
http://www.garlic.com/~lynn/2018e.html#109 Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers
http://www.garlic.com/~lynn/2018e.html#110 Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers
http://www.garlic.com/~lynn/2018e.html#111 Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers
http://www.garlic.com/~lynn/2018e.html#112 Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers
http://www.garlic.com/~lynn/2018e.html#112 Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers
http://www.garlic.com/~lynn/2018e.html#114 Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers
http://www.garlic.com/~lynn/2018f.html#1 Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers

10 Years After Lehman. And Nothing Has Been Fixed
https://www.zerohedge.com/news/2018-09-14/10-years-after-lehman-and-nothing-has-been-fixed

1999, I'm asked to help prevent the coming economic mess, some
investment bankers had walked away "clean" from the S&L crises, where
then doing Internet IPO mills (invest a few millions, hype, ipo for a
few billion, should fail to leave the field clear for next round), and
were predicted to get into securitize mortgages. I was to help improve
the integrity of supporting documents as countermeasure. They then
start paying rating agencies for triple-A (when the rating agencies
knew they weren't worth triple-A, from Oct2008 congressional
hearing). Triple-A trumps supporting documents and they can start
doing no-documentation, liar loans. Triple-A significantly contributes
to being able to do over $27T 2001-2008, including selling to
institutions restricted to only dealing in "safe" investments (like
large pension funds).

Triple-A allows them to sell off everything as fast as they could be
made and eliminates any reason to care about borrower's qualifications
or loan quality. Then they find that they can design securitize
mortgages to fail, pay for triple-A, sell-off into the market and take
out CDS gambling bets that they would fail (creating enormous demand
for dodgy loans/mortgages, now they care about borrower's
qualifications, but not in traditional way). The largest holder of the
CDS gambling bets was AIG and was negotiating to pay off at 50cents on
the dollar when the SECTREAS steps in and has them sign a document
that they can't sue those making the bets and to take TARP funds to
pay off at face value. The largest recipient of TARP funds was AIG and
the large recipient of face value payoffs was the firm formally headed
by SECTREAS.

The rhetoric in congress was that Sarbanes-Oxley would prevent future
ENRONs and guarantee that executives and auditors did jailtime, but it
required SEC to do something. Possibly because GAO didn't believe they
were doing anything they started doing reports of public company
fraudulent financial reports, even showing they increased after SOX
goes into effect (and nobody doing jailtime). Less well known is that
SOX also required SEC to do something about rating agencies, but they
did about as much about rating agencies as they did about public
company fraudulent financial reports.

The #2 person on times list of those responsible for the economic mess
http://content.time.com/time/specials/packages/article/0,28804,1877351_1877350_1877330,00.html

was responsible for GLBA ... known for repeal of Glass-Steagall (head
of CITI had enlisted SECTREAS to help with the repeal, the SECTREAS
then resigns and joins CITI after he helps get the repeal
going). However, #2 is on the list for legislation preventing CDS
gambling bets from being regulated.

The chair of CFTC proposed regulating the CDS gambling bets, the chair
was then quickly replaced with #2's wife ... while he got provision
added to the law to prevent regulation (originally referred to as gift
to ENRON). When that was done, #2's wife resigned and joined the ENRON
board and audit committee. Gramm and the 'Enron Loophole'
http://www.nytimes.com/2008/11/17/business/17grammside.html

Enron was a major contributor to Mr. Gramm's political campaigns, and
Mr. Gramm's wife, Wendy, served on the Enron board, which she joined
after stepping down as chairwoman of the Commodity Futures Trading
Commission.

... snip ...

Phil Gramm's Enron Favor .. gone 404 but lives on at wayback machine
https://web.archive.org/web/20080711114839/http://www.villagevoice.com/2002-01-15/news/phil-gramm-s-enron-favor/

A few days after she got the ball rolling on the exemption, Wendy
Gramm resigned from the commission. Enron soon appointed her to its
board of directors, where she served on the audit committee, which
oversees the inner financial workings of the corporation. For this,
the company paid her between $915,000 and $1.85 million in stocks and
dividends, as much as $50,000 in annual salary, and $176,000 in
attendance fees

... snip ...

Economic Mess posts
http://www.garlic.com/~lynn/submisc.html#economic.mess
(triple-a rated) toxic CDO posts
http://www.garlic.com/~lynn/submisc.html#toxic.cdo
S&L crises posts
http://www.garlic.com/~lynn/submisc.html#s&l.crises
fiscal responsibility act posts
http://www.garlic.com/~lynn/submisc.html#fiscal.responsibility.act
'29 crash, Pecora Hearings and/or Glass-Steagall posts
http://www.garlic.com/~lynn/submisc.html#Pecora&/orGlass-Steagall
ENRON posts
http://www.garlic.com/~lynn/submisc.html#enron
Sarbanes-Oxley posts
http://www.garlic.com/~lynn/submisc.html#sarbanes-oxley
financial.reporting.fraud posts
http://www.garlic.com/~lynn/submisc.html##financial.reporting.fraud

--
virtualization experience starting Jan1968, online at home since Mar1970

Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers
Blog: Facebook
Date: 14 Sep 2018

re:
http://www.garlic.com/~lynn/2018e.html#109 Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers
http://www.garlic.com/~lynn/2018e.html#110 Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers
http://www.garlic.com/~lynn/2018e.html#111 Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers
http://www.garlic.com/~lynn/2018e.html#112 Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers
http://www.garlic.com/~lynn/2018e.html#112 Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers
http://www.garlic.com/~lynn/2018e.html#114 Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers
http://www.garlic.com/~lynn/2018f.html#1 Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers
http://www.garlic.com/~lynn/2018f.html#3 Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers

They were the regulators that watched it happen ... and then covered
up for those responsible.

The Policymakers Saved the Financial System. And America Never Forgave
Them.
https://www.nytimes.com/2018/09/12/upshot/financial-crisis-recession-recovery.html

Confidence Men: Wall Street, Washington, and the Education of a
President.
https://www.amazon.com/Confidence-Men-Washington-Education-ebook/dp/B0089LOKKS/

has several references that essentially wallstreet was using the EHM
debt strategy against the American public. other references were about
new president having to choose between the economic A-team (Volcker et
al) and the B-team. The A-team was instrumental in getting him
elected, but the A-team would have held wallstreet and the
too big to fail accountable, which would have likely taken down
most of those institutions (so new president chooses the b-team that
wasn't going to hold anybody responsible).

Economic Mess posts
http://www.garlic.com/~lynn/submisc.html#economic.mess
TBTF (too big to fail, too bit of prosecute, too big to jail) posts
http://www.garlic.com/~lynn/submisc.html#too-big-to-fail
(triple-a rated) toxic CDO posts
http://www.garlic.com/~lynn/submisc.html#toxic.cdo
regulatory capture posts
http://www.garlic.com/~lynn/submisc.html#regulatory.capture

--
virtualization experience starting Jan1968, online at home since Mar1970

Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers
Blog: Facebook
Date: 15 Sep 2018

re:
http://www.garlic.com/~lynn/2018e.html#109 Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers
http://www.garlic.com/~lynn/2018e.html#110 Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers
http://www.garlic.com/~lynn/2018e.html#111 Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers
http://www.garlic.com/~lynn/2018e.html#112 Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers
http://www.garlic.com/~lynn/2018e.html#112 Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers
http://www.garlic.com/~lynn/2018e.html#114 Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers
http://www.garlic.com/~lynn/2018f.html#1 Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers
http://www.garlic.com/~lynn/2018f.html#3 Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers
http://www.garlic.com/~lynn/2018f.html#4 Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers

Double Whammy: Implicit Subsidies and the Great Financial Crisis
https://www.nakedcapitalism.com/2018/09/double-whammy-implicit-subsidies-great-financial-crisis.html

Jan2009 (decade after asked to try and help prevent the coming
economic mess), I was asked to HTML'ize the Pecora Hearings (30s
senate hearings into '29 crash that resulted in Glass-Steagall
and criminal convictions, had been the scanned fall2008 at Boston
Public Library) with lots of internal HREFs and URLs between what
happened this time and what happened then (comments that the new
congress might have appetite to do something). I work on it for awhile
and then get a call saying that it won't be needed after all
(references to capital hill totally buried under enormous mountains of
wallstreet cash).

Economic Mess posts
http://www.garlic.com/~lynn/submisc.html#economic.mess
'29 crash, Pecora Hearings and/or Glass-Steagall posts
http://www.garlic.com/~lynn/submisc.html#Pecora&/orGlass-Steagall

--
virtualization experience starting Jan1968, online at home since Mar1970

These Four Predicted The Global Financial Crisis; Here's What They Think Causes The Next One

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: These Four Predicted The Global Financial Crisis; Here's What They Think Causes The Next One
Blog: Facebook
Date: 15 Sep 2018

These Four Predicted The Global Financial Crisis; Here's What They
Think Causes The Next One
https://www.zerohedge.com/news/2018-09-14/next-financial-collapse-according-4-who-called-last-one

1999, I'm asked to help try and prevent the coming economic mess (we
failed), some investment bankers had walked away "clean" from the S&L
crises, where then doing Internet IPO mills (invest a few millions,
hype, ipo for a few billion, should fail to leave the field clear for
next round), and were predicted to get into securitize mortgages. I
was to help improve the integrity of supporting documents as
countermeasure. They then start paying rating agencies for
triple-A (when the rating agencies knew they weren't worth triple-A,
from Oct2008 congressional hearing). Triple-A trumps supporting
documents and they can start doing no-documentation, liar
loans. Triple-A significantly contributes to being able to do over
$27T 2001-2008, including selling to institutions restricted to only
dealing in "safe" investments (like large pension funds).

Triple-A allows them to sell off everything as fast as they could be
made and eliminates any reason to care about borrower's qualifications
or loan quality. Then they find that they can design securitize
mortgages to fail, pay for triple-A, sell-off into the market and take
out CDS gambling bets that they would fail (creating enormous demand
for dodgy loans/mortgages, now they care about borrower's
qualifications, but not in traditional way). The largest holder of the
CDS gambling bets was AIG and was negotiating to pay off at 50cents on
the dollar when the SECTREAS steps in and has them sign a document
that they can't sue those making the bets and to take TARP funds to
pay off at face value. The largest recipient of TARP funds was AIG and
the large recipient of face value payoffs was the firm formally headed
by SECTREAS.

The rhetoric in congress was that Sarbanes-Oxley would prevent future
ENRONs and guarantee that executives and auditors did jailtime, but it
required SEC to do something. Possibly because GAO didn't believe they
were doing anything they started doing reports of public company
fraudulent financial reports, even showing they increased after SOX
goes into effect (and nobody doing jailtime). Less well known is that
SOX also required SEC to do something about rating agencies, but they
did about as much about rating agencies as they did about public
company fraudulent financial reports.
https://en.wikipedia.org/wiki/Sarbanes%E2%80%93Oxley_Act

The #2 person on times list of those responsible for the economic mess
http://content.time.com/time/specials/packages/article/0,28804,1877351_1877350_1877330,00.html
was responsible for GLBA ... known for repeal of Glass-Steagall
(head of CITI had enlisted SECTREAS to help with the repeal, the
SECTREAS then resigns and joins CITI after he helps get the repeal
going).
https://en.wikipedia.org/wiki/Gramm%E2%80%93Leach%E2%80%93Bliley_Act
However, #2 is on the list for legislation preventing CDS gambling
bets from being regulated.
https://en.wikipedia.org/wiki/Commodity_Futures_Modernization_Act_of_2000
https://www.pbs.org/wgbh/pages/frontline/shows/wallstreet/

The chair of CFTC proposed regulating the CDS gambling bets,
https://www.pbs.org/wgbh/pages/frontline/warning/
the chair was then quickly replaced with #2's wife ... while he got
provision added to the law to prevent regulation (originally referred
to as gift to ENRON). When that was done, #2's wife resigned and
joined the ENRON board and audit committee. Gramm and the 'Enron
Loophole'
http://www.nytimes.com/2008/11/17/business/17grammside.html
Enron was a major contributor to Mr. Gramm's political campaigns, and
Mr. Gramm's wife, Wendy, served on the Enron board, which she joined
after stepping down as chairwoman of the Commodity Futures Trading
Commission.

Phil Gramm's Enron Favor .. gone 404 but lives on at wayback machine
https://web.archive.org/web/20080711114839/http://www.villagevoice.com/2002-01-15/news/phil-gramm-s-enron-favor/
A few days after she got the ball rolling on the exemption, Wendy
Gramm resigned from the commission. Enron soon appointed her to its
board of directors, where she served on the audit committee, which
oversees the inner financial workings of the corporation. For this,
the company paid her between $915,000 and $1.85 million in stocks and
dividends, as much as $50,000 in annual salary, and $176,000 in
attendance fees

Jan2009 (decade after asked to try and help prevent the coming
economic mess), I was asked to HTML'ize the Pecora Hearings (30s
senate hearings into '29 crash that resulted in Glass-Steagall
and criminal convictions) with lots of internal HREFs and URLs between
what happened this time and what happened then (comments that the new
congress might have appetite to do something). I work on it for awhile
and then get a call saying that it won't be needed after all
(references to capital hill totally buried under enormous mountains of
wallstreet cash).

Economic Mess posts
http://www.garlic.com/~lynn/submisc.html#economic.mess
(triple-a rated) toxic CDO posts
http://www.garlic.com/~lynn/submisc.html#toxic.cdo
S&L crises posts
http://www.garlic.com/~lynn/submisc.html#s&l.crises
fiscal responsibility act posts
http://www.garlic.com/~lynn/submisc.html#fiscal.responsibility.act
'29 crash, Pecora Hearings and/or Glass-Steagall posts
http://www.garlic.com/~lynn/submisc.html#Pecora&/orGlass-Steagall
ENRON posts
http://www.garlic.com/~lynn/submisc.html#enron
Sarbanes-Oxley posts
http://www.garlic.com/~lynn/submisc.html#sarbanes-oxley
financial.reporting.fraud posts
http://www.garlic.com/~lynn/submisc.html##financial.reporting.fraud

The Next Financial Calamity Is Coming. Here's What to Watch.
https://www.nytimes.com/interactive/2018/09/12/business/the-next-recession-financial-crisis.html
Seth Klarman: These Are The 20 Forgotten Lessons From The 2008 Crisis
https://www.zerohedge.com/news/2018-09-14/seth-klarman-these-are-20-forgotten-lessons-2008-crisis
Ten Misconceptions About Financial Crisis on 10-Year Anniversary
https://www.bloomberg.com/view/articles/2018-09-14/ten-misconceptions-about-financial-crisis-on-10-year-anniversary
Lehman's Fall Cast a Long, Risky Banking Shadow
https://www.bloomberg.com/amp/view/articles/2018-09-14/lehman-brothers-collapse-rise-of-shadow-banking
Financial panic and credit disruptions in the 2007-09 crisis
https://www.brookings.edu/blog/ben-bernanke/2018/09/13/financial-panic-and-credit-disruptions-in-the-2007-09-crisis/
The Makings of a 2020 Recession and Financial Crisis by Nouriel
Roubini & Brunello Rosa
https://www.project-syndicate.org/commentary/financial-crisis-in-2020-worse-than-2008-by-nouriel-roubini-and-brunello-rosa-2018-09
What We Should Have Learned From the 2008 Financial Crisis
https://www.foreignaffairs.com/articles/2018-09-13/crisis-next-time
Ten years after Lehman's collapse, a massive trader default in Norway
has stunned markets again
https://qz.com/1390227/ten-years-after-lehmans-collapse-a-massive-trader-default-in-norway-has-stunned-markets-again/

Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers
https://www.nakedcapitalism.com/2018/09/pigs-want-to-feed-at-the-trough-again-bernanke-geithner-and-paulson-use-crisis-anniversary-to-ask-for-more-bailout-powers.html
Ten Years After Lehman's Collapse: What caused the Crash of 2008 is
now shaping our post-modern 1930s - der Freitag
https://www.zerohedge.com/news/2018-09-10/10-years-later-lehman-still-shaping-our-post-modern-1930s-moment
The Real Cost of the 2008 Financial Crisis
https://www.newyorker.com/magazine/2018/09/17/the-real-cost-of-the-2008-financial-crisis
Ten Years Since Lehman: Biggest Driver of 2008 Financial Crisis Has
Only Got Worse
https://www.zerohedge.com/news/2018-09-11/ten-years-lehman-biggest-driver-2008-financial-crisis-has-only-got-worse
The 2008 financial crisis upturned politics - and it's not done yet
https://moneyweek.com/494638/the-2008-financial-crisis-upturned-politics-and-its-not-done-yet/
The U.S. Financial Crisis
https://www.cfr.org/timeline/us-financial-crisis
10 Years After Lehman. And Nothing Has Been Fixed
https://www.zerohedge.com/news/2018-09-14/10-years-after-lehman-and-nothing-has-been-fixed
Double Whammy: Implicit Subsidies and the Great Financial Crisis
https://www.nakedcapitalism.com/2018/09/double-whammy-implicit-subsidies-great-financial-crisis.html

--
virtualization experience starting Jan1968, online at home since Mar1970

As Debt Rises, the Government Will Soon Spend More on Interest Than on the Military

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: As Debt Rises, the Government Will Soon Spend More on Interest Than on the Military
Blog: Facebook
Date: 25 Sep 2018

As Debt Rises, the Government Will Soon Spend More on Interest Than on the Military
https://www.nytimes.com/2018/09/25/business/economy/us-government-debt-interest.html

2002, congress lets the fiscal responsibility act lapse (spending
can't exceed tax revenue, on its way to eliminating all federal
debt). By 2005, comptroller general was including in speeches that
nobody in congress was capable of middle school arithmetic (for how
badly they were savaging the budget). 2010, CBO office report
2003-2009 tax revenue cut by $6T and spending increased by $6T for
$12T gap compared to fiscal responsible budget (first time taxes were
cut to not pay for two wars).

fiscal responsibility act posts
http://www.garlic.com/~lynn/submisc.html#fiscal.responsibility.act

TARP funds were justified by the SECTREAS to buy offbook toxic assets
to bail out the financial institutions (from the mess they made last
decade), but with only $700B appropriated and just the four largest
Too Big To Fail still carrying $5.2T ye2008 (over $27T done
2001-2008), it wouldn't have hardly dented the problem and TARP was
used for other purposes. The Federal Reserve is left to do the real
"bailout", buying trillions in their assets and providing tens of
trillions in ZIRP funds. The FEDRES fought long legal battle to
prevent disclosing the "real bailout" and when they lost, the FEDRES
chair held press conference. He said that he assumed that the TBTF
would use the ZIRP funds to help mainstreet, but when they didn't, he
had no way to force them, but that didn't stop the ZIRP funds ... used
to buy US Treasuries (aka debt) and make >$300B/annum on the
spread. Note that FEDRES chair had supposedly been selected in part on
being a depression era scholar ... but the FEDRES had tried something
similar then with the same results, so the chair should have had no
reasonable expectation of something different this time. Note that it
doesn't work w/o huge federal debt ... it was sort of confluence of
FEDRES and TBTF needed huge federal debt, special interests wanting
huge tax cut and military-industrial complex wanting huge spending
increase.

TARP addenda ... original finding that they could pay for triple-A
rating for securitized mortgages (when rating agencies knew they
weren't worth triple-A, from Oct2008 congressional hearings) and
immediately sell off everything into the bond market (including to
entities restricted to only dealing in "safe" investments, like large
pension funds) eliminated having to care about borrower's
qualifications or loan quality ... doing no-documentation, liar loans
to speed up the process. Then they find that they can do securitize
mortgages/loans designed to fail, pay for triple-A, sell into the bond
market, and take out CDS gambling bets they would fail, creating huge
demands for dodgy mortgages. Now they cared about borrower's
qualification, but not in the traditional way. The largest holder of
CDS gambling bets was AIG and was negotiating to pay off at 50cents on
the dollar when the SECTREAS steps in, has them sign a document that
they can't sue those making the bets and take TARP funds to pay off at
face value. The largest recipient of TARP funds is AIG and the largest
recipient of face value payoffs was the firm formally headed by
SECTREAS.

Economic Mess posts
http://www.garlic.com/~lynn/submisc.html#economic.mess
TBTF (too big to fail, too bit of prosecute, too big to jail) posts
http://www.garlic.com/~lynn/submisc.html#too-big-to-fail
(triple-a rated) toxic CDO posts
http://www.garlic.com/~lynn/submisc.html#toxic.cdo
Fed chairman posts
http://www.garlic.com/~lynn/submisc.html#fed.chairman
ZIRP posts
http://www.garlic.com/~lynn/submisc.html#zirp

--
virtualization experience starting Jan1968, online at home since Mar1970

The LLC Loophole; In New York, where an LLC is legally a person, companies can use the vehicles to blast through campaign finance limits

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: The LLC Loophole; In New York, where an LLC is legally a person, companies can use the vehicles to blast through campaign finance limits.
Blog: Facebook
Date: 26 Sep 2018

The LLC Loophole; In New York, where an LLC is legally a person,
companies can use the vehicles to blast through campaign finance
limits.
https://www.theinvestigativefund.org/investigation/2018/09/07/the-llc-loophole/?platform=hootsuite

But none of the donations came from Breslin Realty itself. They came
instead from a network of 22 limited liability companies that, though
all controlled by Breslin, legally operate as separate individuals and
so, under New York state's campaign finance laws, can each donate the
individual maximum to political campaigns.

... snip ...

Amazon.com: Treasure Islands: Uncovering the Damage of Offshore
Banking and Tax Havens
https://www.amazon.com/Treasure-Islands-Uncovering-Offshore-Banking-ebook/dp/B004OA6420/
references corporations are people and can vote in City of London, 32k
corporate voters and 9k human voters.

We the Corporations: How American Businesses Won Their Civil Rights
https://www.amazon.com/We-Corporations-American-Businesses-Rights-ebook/dp/B01M64LRDJ/
Originally, US corporations were entities that operate in public
interest, but then certain factions wanted those rights extended to
entities that can operate in self interest as well "people" rights
under constitution.

pg36/loc726-28:

On this issue, Hamiltonians were corporationalists--proponents of
corporate enterprise who advocated for expansive constitutional rights
for business. Jeffersonians, meanwhile, were populists--opponents of
corporate power who sought to limit corporate rights in the name of
the people.

pg120|loc1975-78:

The railroad corporations were constitutional first movers who
employed innovative tactics to secure new rights. They envisioned the
lawsuits as a form of strategic litigation, or what their lawyers
called "test cases," to determine whether corporations had the same
rights as ordinary people to equal protection and due process under
the Fourteenth Amendment.

... snip ...

Thomas Jefferson: The Art of Power
https://www.amazon.com/Thomas-Jefferson-Power-Jon-Meacham-ebook/dp/B0089EHKE8/

Loc5080-83:

Hamilton wanted the bank to be funded by federal deposits but run, in
part, for the benefit of private investors. Jefferson and Madison
objected. 29 They feared that the Hamiltonian program would enable
financial speculators to benefit from commercial transactions made
possible by government funds.

... snip ...

inequality posts
http://www.garlic.com/~lynn/submisc.html#inequality

--
virtualization experience starting Jan1968, online at home since Mar1970

A Tea Party Movement to Overhaul the Constitution Is Quietly Gaining

Refed: **, - **, - **, - **, - **
From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: A Tea Party Movement to Overhaul the Constitution Is Quietly Gaining
Blog: Facebook
Date: 26 Sep 2018

A Tea Party Movement to Overhaul the Constitution Is Quietly Gaining
Steam http://time.com/5356045/constitutional-convention-tea-party/

We the Corporations: How American Businesses Won Their Civil Rights
https://www.amazon.com/We-Corporations-American-Businesses-Rights-ebook/dp/B01M64LRDJ/
Originally, US corporations were entities that operate in public
interest, but then certain factions wanted those rights extended to
entities that can operate in self interest as well "people" rights
under constitution.

pgxiv/loc74-78:

Between 1868, when the amendment was ratified, and 1912, when a
scholar set out to identify every Fourteenth Amendment case heard by
the Supreme Court, the justices decided 28 cases dealing with the
rights of African Americans--and an astonishing 312 cases dealing with
the rights of corporations.

pgxviii/loc132-36:

For most of American history, the Supreme Court failed to protect the
dispossessed and the marginalized, with the justices claiming to be
powerless in the face of hostile public sentiment. As we will see,
however, the court's record on corporate rights was much different. In
1809, the Supreme Court decided the first case on the constitutional
rights of corporations, decades before the first comparable cases for
women or racial minorities. And unlike women and minorities, who lost
nearly all of their early cases, corporations won that first case--and
have compiled an impressive list of victories in the years since.

pg36/loc726-28:

On this issue, Hamiltonians were corporationalists--proponents of
corporate enterprise who advocated for expansive constitutional rights
for business. Jeffersonians, meanwhile, were populists--opponents of
corporate power who sought to limit corporate rights in the name of
the people.

pg120|loc1975-78:

The railroad corporations were constitutional first movers who
employed innovative tactics to secure new rights. They envisioned the
lawsuits as a form of strategic litigation, or what their lawyers
called "test cases," to determine whether corporations had the same
rights as ordinary people to equal protection and due process under
the Fourteenth Amendment.

pg229/loc3667-68:

IN THE TWENTIETH CENTURY, CORPORATIONS WON LIBERTY RIGHTS, SUCH AS
FREEDOM OF SPEECH AND RELIGION, WITH THE HELP OF ORGANIZATIONS LIKE
THE CHAMBER OF COMMERCE.

... snip ...

Thomas Jefferson: The Art of Power
https://www.amazon.com/Thomas-Jefferson-Power-Jon-Meacham-ebook/dp/B0089EHKE8/

loc5080-83:

Hamilton wanted the bank to be funded by federal deposits but run, in
part, for the benefit of private investors. Jefferson and Madison
objected. 29 They feared that the Hamiltonian program would enable
financial speculators to benefit from commercial transactions made
possible by government funds.

... snip ...

My wife's father was awarded a set of history books from 1880s, for
some distinction at West Point by daughters of 17th century
http://www.colonialdaughters17th.org/

They reference that if hadn't been for mid-Atlantic (Jefferson,
Madison, Scottish etc) influence, the English settlers (Hamilton,
Federalists) would have prevailed and our form of government would be
more like English with monarch and structured society. The
constitution deliberations were kept confidential and when states
didn't ratified it, Jefferson was brought back from France to do the
Bill of Rights (in order to get constitution ratified). Besides Bill
of Rights, Jefferson was also major force behind making sure our
country had separation of church and state.

Note the original English settlement was Jamestown that had planned to
follow the Spanish model, military to enslave the local natives to
support the settlement. It turns out that the North American natives
weren't as cooperative and the original settlement starved. English
then switched to sending over other members of the British Isles to
serve the purpose. The crown charters for those settlements had rigid
social structure with the "leet-men" at the bottom and "All the
children of leet-men shall be leet-men, and so to all generations".

--
virtualization experience starting Jan1968, online at home since Mar1970

Why Dodd-Frank Is A Protection Racket For Banks

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Why Dodd-Frank Is A Protection Racket For Banks
Blog: Facebook
Date: 30 Sep 2018

Why Dodd-Frank Is A Protection Racket For Banks
https://www.zerohedge.com/news/2018-09-28/why-dodd-frank-protection-racket-banks
Why Dodd-Frank Is a Protection Racket for Banks
https://www.nakedcapitalism.com/2018/09/dodd-frank-protection-racket-banks.html

In 1999, I was asked to help try and prevent the coming economic mess
(we failed). Decade later in Jan 2009, I was asked to HTML'ize the
Pecora Hearings (senate 30s hearings into '29 crash, resulted in
criminal convictions and jailtime) with lots of internal HREFs and
URLs between what happened this time and what happened them (comments
that the new congress might have appetite to do something). I work on
it for awhile and then get call that it won't be needed after all
(comments that capital hill totally buried under enormous amounts of
wall street cash).

Eventually they apparently decided that they would have to do
something. Note that one of the sponsors of Dodd-Frank is also on the
list of friends
https://en.wikipedia.org/wiki/Angelo_Mozilo#Friends_of_Angelo_.28FOA.29_VIP_program
of the number one person on Time's list of those responsible for the economic mess.
http://content.time.com/time/specials/packages/article/0,28804,1877351_1877350_1877339,00.html

They had industry lobbyists writing sections to kneecap and discredit
the bill:

1) sections that sounded good, but would have little or no effect on
actual business
2) sections that were extraordinarily complex and contradictory making
it impossible to create regulations
3) ridiculous sections that were leaked and then the same lobbyist
that drafted the sections would publicly criticize them.

"Confidence Men"
https://www.amazon.com/Confidence-Men-Washington-Education-ebook/dp/B0089LOKKS/

pg430:

But they were fighting on too many fronts. Carl Levin of Michigan and
Jeff Merkley of Oregon had discovered that Dodd had discreetly gutted
the Volcker Rule, and the two set to work trying to counteract Dodd's
efforts. The Merkley-Levin Amendment articulated Volcker's idea fully
-- and wrote it as law. No regulatory backsliding, once everything
settled down.

... snip ...

also has several references that essentially wallstreet was using the
EHM debt strategy against the American public. Other references were
about new president having to choose between the economic A-team
(Volcker et al) and the B-team. The A-team was instrumental in getting
him elected, but the A-team would have held wallstreet and the
too-big-to-fail accountable, which would have likely taken down most
of those institutions (so new president chooses the b-team that wasn't
going to hold anybody responsible).

some other refs from the period:

Deja Vu on the Hill: Wall Street Lobbyists Roll Back Finance Reform, Again
http://www.rollingstone.com/politics/blogs/taibblog/deja-vu-on-the-hill-wall-street-lobbyists-roll-back-finance-reform-again-20130521
Bank Lobbyists Writing the Rules for Wall Street (gone 404, but lives
on at wayback machine)
https://web.archive.org/web/20130717003250/http://www.pogo.org/blog/2013/05/bank-lobbyists-writing-the-rules-for-wall-street.html
Banks' Lobbyists Help in Drafting Financial Bills
http://dealbook.nytimes.com/2013/05/23/banks-lobbyists-help-in-drafting-financial-bills/

Economic Mess posts
http://www.garlic.com/~lynn/submisc.html#economic.mess

--
virtualization experience starting Jan1968, online at home since Mar1970

A Tea Party Movement to Overhaul the Constitution Is Quietly Gaining

Refed: **, - **, - **, - **
From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: A Tea Party Movement to Overhaul the Constitution Is Quietly Gaining
Blog: Facebook
Date: 30 Sep 2018

re:
http://www.garlic.com/~lynn/2018f.html#9 A Tea Party Movement to Overhaul the Constitution Is Quietly Gaining

Putting Democracy in Chains; Charles Koch's and the Republican
Party's War Against the US Constitution and Democracy
https://johnhively.wordpress.com/2018/09/23/putting-democracy-in-chains-charles-kochs-and-the-republican-partys-war-against-the-us-constit
Part 1: Charles Koch, the Republican Party, and Their War Against U.S. Democracy
https://johnhively.wordpress.com/2018/09/20/part-1-charles-koch-the-republican-party-and-their-war-against-u-s-democracy/

We can either have democracy in this country or we can have great
wealth concentrated in the hands of a few, but wa can not have both -
Justice Louis Brandis

... snip ....

inequality posts
http://www.garlic.com/~lynn/submisc.html#inequality

--
virtualization experience starting Jan1968, online at home since Mar1970

IBM mainframe today

Refed: **, - **, - **
From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: IBM mainframe today
Newsgroups: alt.folklore.computers
Date: Mon, 01 Oct 2018 03:36:04 -0700

ted@loft.tnolan.com (Ted Nolan <tednolan>) writes:

As sort of a parallel to the "IBM Today" thread, I was wondering
what an IBM mainframe is today.  Say your business has been running
on 360/370 for decades and the building catches fire and you have
to replace it.

Does IBM still give you a big steel box that is your "mainframe"?
If so is it one chip and a lot of empty space inside or what?

z900, 16 processors, 2.5BIPS (156MIPS/proc), Dec2000
z990, 32 processors, 9BIPS, (281MIPS/proc), 2003
z9, 54 processors, 18BIPS (333MIPS/proc), July2005
z10, 64 processors, 30BIPS (469MIPS/proc), Feb2008
z196, 80 processors, 50BIPS (625MIPS/proc), Jul2010
EC12, 101 processors, 75BIPS (743MIPS/proc), Aug2012
z13, 140 processors, 100BIPS (710MIPS/proc), Jan2015
z14, 170 processors, 150BIPS (862MIPS/proc), Aug2017

claim is that over half the z10->z196 per processor speedup was adopting
various memory latency masking mechanisms (that have been in other
platforms for decades), out-of-order, speculative execution, branch
prediction, etc ... aka current memory latency (cache miss) when
measured in count of processor cycles is equivalent to 60s disk latency
when measured in count of 60s processor cycles.

today's systems.
https://en.wikipedia.org/wiki/IBM_mainframe#Today's_systems

note that they still require CKD DASD, even though they haven't been
manufactured for decades, simulated on industry standard fixed-block
disks.

there is P/390 ... can get software license
ftp://p390.ibm.com/doc/p390/p390_hwd.htm
ftp://p390.ibm.com/doc/p390/p390_prh.htm
ftp://p390.ibm.com/doc/p390/p390_ovr.htm

precursor was A74/7437 by same group ... old email
http://www.garlic.com/~lynn/2000e.html#email880622
in this post
http://www.garlic.com/~lynn/2000e.html#56 Why not an IBM zSeries workstation?

current is zPDT ... (IBM) emulator that runs on PC/Linux
http://www.redbooks.ibm.com/abstracts/sg248205.html

some history
https://en.wikipedia.org/wiki/PC-based_IBM-compatible_mainframes

other triva: I got con'ed into doing channel extender support for STL
in 1980 when they were moving 300 people from the IMS group to offsite
bldg (with dataprocessing support back to STL datacenter). Hardware
vendor tried to get IBM permission to release my support ... but there
was group in POK that was playing with some serial stuff and got that
veto'ed (were afraid that if it was in the market, it would make
it harder to justify releasing their stuff) ... some past
posts
http://www.garlic.com/~lynn/submisc.html#channel.extender

then in 1988, I was asked to help LLNL get some serial stuff
they were playing with standardized ... which quickly becomes
Fibre Channel Standard (including some of the stuff I did in
1980).
https://en.wikipedia.org/wiki/Fibre_Channel

The POK people finally get their stuff released as ESCON in 1990 (with
ES/9000) when it is already obsolete.

Then some POK engineers get involved in FCS and defined a heavy weight
protocol that drastically reduces the native throughput ... which is
eventually released as FICON. The most recent peak I/O benchmark numbers
I've seen are for z196 getting 2M IOPS using 104 FICON (running over 104
FCs). About the same time a FCS was announced for E5-2600 blade claiming
over million (native) IOPS (two such having more throughput than 104
FICON). some past posts
http://www.garlic.com/~lynn/submisc.html#ficon

--
virtualization experience starting Jan1968, online at home since Mar1970

IBM today

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: IBM today
Newsgroups: alt.folklore.computers
Date: Mon, 01 Oct 2018 03:48:02 -0700

hancock4 writes:

IBM built its success on providing top notch customer support, and
charging for it.  In the early days of data processing, it was all
so new and so expensive that customers welcomed IBM's support
to get out their payroll and make good use of their very expensive
hardware.  Win win for IBM and its customers.

told periodically ... late 80s, senior disk engineer got talk scheduled
at annual, world-wide internal communication group conference supposedly
on 3174 performance, but opened the talk with the statement that the
head of the communication group was going to be responsible for the
demise of the disk division. The issue was that the communication group
had stranglehold on datacenters with corporate strategic ownership of
everything that crossed datacenter walls and were fiercely fighting off
distributed computing and client/server, trying to preserve their dumb
terminal paradigm and install base. The disk division was seeing data
fleeing datacenters to more distributed computing friendly platforms
with fall in disk sales. The disk division had come up with a number of
solution to address the opportunity, but they were constantly being
vetoed by the communication group. The mainframe datacenter stranglehold
wasn't just affecting disk sales and a few years later the company goes
into the red.

past posts

http://www.garlic.com/~lynn/subnetwork.html#terminal look at recent IBM financials ... mainframe hardware is declining part of the business ... was 5% of revenue and dropping ... but total mainframe group (including software and services) was 25% of revenue (and 40% of bottom line) ... aka milking some very high end customers (even when they weren't buying new machines). 2000 I did some performance work for financial datacenter that was running 450k statement cobol application on over 40 max. configured mainframes (at $30M/pop) ... constantly being upgraded, none older than 18months (got 14% improvement in the cobol app, which translated into the max. number of mainframes needed). ... there are a relatively small number of these datacenters that provide the majority of the mainframe revenue -- virtualization experience starting Jan1968, online at home since Mar1970

IBM today

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: IBM today
Newsgroups: alt.folklore.computers
Date: Mon, 01 Oct 2018 04:01:16 -0700

J. Clarke <jclarke.873638@gmail.com> writes:

Why would an IBM Z made in 2018 consume more electricity than an Intel
based system of the same capacity?

You seem to be laboring under the misconception that companies that
use mainframes are using the same mainframe they installed in 1970,
when the reality is that most of them are using brand new mainframes
installed in the last 10 years or so.

re:
http://www.garlic.com/~lynn/2018f.html#12 IBM mainframe today
http://www.garlic.com/~lynn/2018f.html#13 IBM today

industry standard server chips are under intense pressure from the large
cloud datacenters to optimize computation power efficiency. They have
been claiming for over a decade that they assemble their own servers for
1/3rd the cost of servers from brand name vendors ... possibly
motivation for IBM to have sold off that server business a couple years
ago ... especially after the server chip makers said that they were
shipping over half their product directly to large cloud
megadatacenters.

The cloud megadatacenters had so drastically reduced their server cost
(server cost/BIPS something like 1/100,000 that of IBM mainframe) that
power&cooling was becoming increasingly major cost factor ... and they
started applying significant pressure to their server chip vendors to
improve power&cooling efficiencies. Somewhat was result, industry
standard benchmarks have been expanded past cost/transaction ... to also
power-efficiency/transaction ... and power efficiency rating is now
standard for cloud megadatacenters.

--
virtualization experience starting Jan1968, online at home since Mar1970

A Tea Party Movement to Overhaul the Constitution Is Quietly Gaining

Refed: **, - **, - **
From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: A Tea Party Movement to Overhaul the Constitution Is Quietly Gaining
Blog: Facebook
Date: 01 Oct 2018

re:
http://www.garlic.com/~lynn/2018f.html#9 A Tea Party Movement to Overhaul the Constitution Is Quietly Gaining
http://www.garlic.com/~lynn/2018f.html#11 A Tea Party Movement to Overhaul the Constitution Is Quietly Gaining

Democratic republic
https://en.wikipedia.org/wiki/Democratic_republic

A democratic republic is a form of government operating on principles
adopted from a republic and a democracy. Rather than being a cross
between two entirely separate systems, democratic republics may
function on principles shared by both republics and democracies.

... snip ...

Is the United States of America a republic or a democracy
https://www.washingtonpost.com/news/volokh-conspiracy/wp/2015/05/13/is-the-united-states-of-america-a-republic-or-a-democracy/

The United States is not a direct democracy, in the sense of a country
in which laws (and other government decisions) are made predominantly
by majority vote. Some lawmaking is done this way, on the state and
local levels, but it's only a tiny fraction of all lawmaking. But we
are a representative democracy, which is a form of democracy.

... snip ...

The 1880 history books given to West Point graduates for some
distinction by the daughters of 17th century
http://www.colonialdaughters17th.org/

goes into some detail that Jefferson was brought back from France when
the constitution wasn't being ratified ... and along with Madison and
others did the "Bill of Rights", the addition was finally possible to
get the constitution ratified.
https://en.wikipedia.org/wiki/United_States_Bill_of_Rights

The Bill of Rights is the first ten amendments to the United States
Constitution.[1] Proposed following the often bitter 1787-88 battle
over ratification of the U.S. Constitution, and crafted to address the
objections raised by Anti-Federalists, the Bill of Rights amendments
add to the Constitution specific guarantees of personal freedoms and
rights, clear limitations on the government's power in judicial and
other proceedings, and explicit declarations that all powers not
specifically delegated to Congress by the Constitution are reserved
for the states or the people

... snip ...

frequently characterized as Jefferson/populists trying to limit powers
supported by Hamilton/Federalists. As discussed in some detail: "We
the Corporations: How American Businesses Won Their Civil Rights"
https://www.amazon.com/We-Corporations-American-Businesses-Rights-ebook/dp/B01M64LRDJ/

the Federalists have been fighting back by getting constitutional
rights extended to corporations ... corporations were originally
entities that were to operate in the public interest, this was first
compromised by removing the "operate in public interest" restriction
(i.e. allowing them to operate in self-interest) ... and then the
campaign to get constitutional rights for corporations
(i.e. corporations are "people"). Also major propaganda campaign by
corporations/industrialists after getting such a bad reputation for
the depression and supporting Nazi Germany, for equating Capitalism
with Christianity (result including adding "Under God" to the pledge
of allegiance in the early 50s)
https://www.amazon.com/One-Nation-Under-God-Corporate-ebook/dp/B00PWX7R56/

inequality posts
http://www.garlic.com/~lynn/submisc.html#inequality

--
virtualization experience starting Jan1968, online at home since Mar1970

IBM Z and cloud

From: lynn@GARLIC.COM (Anne & Lynn Wheeler)
Subject: Re: IBM Z and cloud
Newsgroups: bit.listserv.ibm-main
Date: 1 Oct 2018 12:14:14 -0700

smetz3@GMU.EDU (Seymour J Metz) writes:

cloud = timesharing

Someone else deploys the infrastructure, to you it's a black box. Less
control but also less manpower. Some legal issues.

No, z/OS is not a cloud, but neither is AIX, *bsd, Linux, windows or
Solaris; it's the deployment that makes it a cloud or not a cloud. You
can have a cloud with z/OS just as much as you can have one with,
e.g., Linux.

In 1968, there were two commercial spin-offs from the IBM Cambridge
Science Center ... doing virtual machine based online (commercial)
service bureaus. One of the big issues was providing 7x24 non-stop
operation. This was in the days when IBM leased the hardware and charges
was based on number of hours per month ... based on the "system" clock
... which would run whenever any CPU and/or channel was busy (and
continue to run for 400ms after everything was idle).

There was lots of work on CP67 to reduce offshift charges when
(initially) use was light (and little revenue based on online use)
... this included dark room operation ... not requiring onsite operator
... as well as special terminal channel program that would go to sleep
when no characters were arriving ... but would immediately wake up to
accept incoming characters (allowing system clock & charges to stop when
system idle). They also fairly quickly moved up the value stream
specializing in offering services to the financial industry and had to
provide significant security features (when multiple competing financial
operations all using the same systems).

past scince center posts
http://www.garlic.com/~lynn/subtopic.html#545tech.

Trivia: long after IBM changed from leased to selling hardware ... MVS
still had timer event that would wake up every 400ms (to make sure
system clock never stopped).

other triva: science center also started offering its virtual machine
CP67 services to other internal IBM operations as well as (free) to
various employees and students at various institutions of higher
learning in the Cambridge/Boston area. CSC had also ported apl\360
(typically ran with 16kbyte workspace) to CMS as CMS\APL ... including
allowing workspace to be virtual address space size and offering API for
system services (like file read/write) ... greatly expanding the
real-world applications that could be done on APL. Early user was
business planning/forcasting from IBM Armonk hdqtrs that loaded the most
holy of IBM data (detailed customer information) on the system ... for
modeling ... and significant security had to be demonstrated ... making
sure people like MIT students wouldn't be able to access corporate data.

For over decade the large cloud operations have claimed they assemble
their own server systems for 1/3rd the price of brand name server
systems (a typical cloud megadatacenter will have over half million
blade systems), likely part of the motivation for IBM selling off its
server product business ... along with announcements from the server
chip (processors, etc) makers were shipping over half their chips
directly to the large cloud operations.

The large cloud operations have reduced the cost of their servers so
drastically that they are able to significantly over provision for
"on-demand" (i.e. huge number of idle systems that can be instantly
"on-demand" operation) ... these costs are possibly 1/100,000 the
cost/BIPS of typical IBM mainframe. Because they have reduced server
costs so significantly power&cooling has become increasing major portion
of cloud megadatacenter ... and they have put significant pressure on
server chip makers to optimize execution power consumption as well as
drop to zero when systems are idle (but instantly on for "on-demand").

There are some number of vendors looking at leverage a lot of the
enormous work down by the cloud megadatacenters for marketing in-house
cloud operations to businesses.

The comparison to the 60s virtual machine commercial online operation
...  is cloud datacenter (with over half million systems) typically
operate with staff of 80-120 people (compared to cp/67 dark room
operation) ... and power/cooling dropping to zero when systems are idle
... but are instantly on (compared to 360 channel programs allowing
channel to go idle allowing system meter to stop ... but instantly on)
... as well as quite a bit of work on security.

Early 70s also had TYMSHARE (on west coast) offering online commercial
services (now with VM370). In Aug1976, TYMSHARE also started offering is
CMS-based online computer conference "free" to SHARE as VMSHARE
... archives here:
http://vm.marist.edu/~vmshare

other trivia: as undergraduate in the 60s, I was brought into small
group in Boeing CFO office to help with consolidating all dataprocessing
into Boeing Computer Services (independent business unit to better
monetize the investment, just renton datacenter had something between
$200M-$300M, 60s dollars, in 360 mainframes, 360/65s were arriving
faster than they could be installed, boxes constantly being staged in
the hallways around the machine room). I had done a great deal of os/360
optimization previously at the university as well as rewritten large
parts of CP67 ... which I was also to install).

--
virtualization experience starting Jan1968, online at home since Mar1970

IBM Z and cloud

From: lynn@GARLIC.COM (Anne & Lynn Wheeler)
Subject: Re: IBM Z and cloud
Newsgroups: bit.listserv.ibm-main
Date: 1 Oct 2018 12:35:03 -0700

sipples@SG.IBM.COM (Timothy Sipples) writes:

z/OS is UNIX(TM), certified by The Open Group and a trademark
bearer. Linux is not UNIX, as it happens. Apple's macOS is UNIX, while
iOS, tvOS, and watchOS are not. AIX is UNIX. The modern BSD family
operating systems derived from "Networking Tape 2" (NetBSD, FreeBSD,
OpenBSD, etc.) are not UNIX.

re:
http://www.garlic.com/~lynn/2018f.html#16 IBM Z and cloud

originally funded/developed by (renamed/reorged IBM disk division)
ADSTAR software VP ... as part of trying to work around the
communication group ... also provided venture/startup funding to
entities doing distributed computing support that would use mainframe
for disk storage.

I've mentioned before that senior disk engineer got talk scheduled at
world-wide, annual, internal communication group ... supposedly on 3174
performance ... but opened the talk that the IBM communication group was
going to be responsible for the IBM disk division. The issue was that
the communication group had corporate strategic responsibility for
everything that crossed datacenter walls and were fiercely fighting off
distributed computing and client/server ... trying to preserve their
(emulated) dumb terminal paradigm and install base. The disk division
was seeing data fleeing to more distributed computing platforms with
drop in disk sales ... their efforts to correct the problems were
constantly being veto'ed by the communication group. "POSIX" support was
part of work-around (since it didn't directly involve crossing the
datacenter walls) and funding distributed computing startups didn't
directly challenge communication group IBM ownership of everything (IBM)
that crossed the datacenter wall. The communication group stanglehold on
mainframe datacenters didn't just disks ... and a few years later IBM
goes into the red.

POSIX ... portable operating system interface ... originally 1988
https://en.wikipedia.org/wiki/POSIX
z/OS here
https://en.wikipedia.org/wiki/POSIX#Compliant_via_compatibility_feature

trivia: "ADSTAR" was the furthest along with reoganization of IBM into
the 13 "baby blues" in preparation for breaking up the
company. reference gone behind paywall, but mostly lives free at wayback
machine
http://web.archive.org/web/20101120231857/http://www.time.com/time/magazine/article/0,9171,977353,00.html

then new CEO was brought in and the breakup reversed ... although as
predicted ... IBM disk group no long exists ... even tho CKD DASD
is still required ... but haven't been manufactured for decades,
all being emulated on industry standard fixed-block disks.

--
virtualization experience starting Jan1968, online at home since Mar1970

IBM mainframe today

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: IBM mainframe today
Newsgroups: alt.folklore.computers
Date: Mon, 01 Oct 2018 12:52:22 -0700

re:
http://www.garlic.com/~lynn/2018f.html#12 IBM mainframe today

there is also ibm-main mailing list discussion group ... originated in
the 80s on corporate sponsored univ. BITNET (for a time larger than
arpanet/internet) ... also EARN in europe
https://en.wikipedia.org/wiki/BITNET

ibm-main mailing list gatewayed to usenet, which is in turned
gatewayed to google groups ... archives here
https://groups.google.com/forum/#!forum/bit.listserv.ibm-main
recent thread on "IBM Z and cloud"
https://groups.google.com/forum/#!topic/bit.listserv.ibm-main/oa2r6JJYZJ4

other trivia: listserv originated in Paris on EARN in mid-80s
https://en.wikipedia.org/wiki/LISTSERV

past posts mentioning bitnet (& earn)
http://www.garlic.com/~lynn/subnetwork.html#bitnet

--
virtualization experience starting Jan1968, online at home since Mar1970

A Tea Party Movement to Overhaul the Constitution Is Quietly Gaining

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: A Tea Party Movement to Overhaul the Constitution Is Quietly Gaining
Blog: Facebook
Date: 01 Oct 2018

re:
http://www.garlic.com/~lynn/2018f.html#9 A Tea Party Movement to Overhaul the Constitution Is Quietly Gaining
http://www.garlic.com/~lynn/2018f.html#11 A Tea Party Movement to Overhaul the Constitution Is Quietly Gaining
http://www.garlic.com/~lynn/2018f.html#15 A Tea Party Movement to Overhaul the Constitution Is Quietly Gaining

with regard to the corporate propaganda campaign equating Capitalism
with Christianity (deflect from being responsible for depression and
supporting Nazi Germany).

Note that John Foster Dulles played major role in rebuilding Germany's
economy, industry and military 20s thru early 40s. The Brothers: John
Foster Dulles, Allen Dulles, and Their Secret World War,
https://www.amazon.com/Brothers-Foster-Dulles-Allen-Secret-ebook/dp/B00BY5QX1K/

loc905-7:

Foster was stunned by his brother's suggestion that Sullivan &
Cromwell quit Germany. Many of his clients with interests there,
including not just banks but corporations like Standard Oil and
General Electric, wished Sullivan & Cromwell to remain active
regardless of political conditions.

loc938-40:

At least one other senior partner at Sullivan & Cromwell, Eustace
Seligman, was equally disturbed. In October 1939, six weeks after the
Nazi invasion of Poland, he took the extraordinary step of sending
Foster a formal memorandum disavowing what his old friend was saying
about Nazism

... snip ...

From the law of unintended consequences; 1943 US Strategic Bombing
Program, they needed German industrial and military targets and
coordinates, they got the information and detailed plans from
wallstreet.

In the red scares ... all sort of propaganda was repositioned as
opposition to USSR and PRC. In the 50s, John Foster Dulles is quoted
as saying that he justified supporting Nazis from the 20s through the
early 40s as a counterforce to the Soviet Union (as opposed to
supporting capitalism).

other trivia: Milton Miles book ("Another Kind of War") first half was
about going into china to setup coastal watchers but then spent much
of the rest training 50,000 guerrillas fighting the Japanese. He then
spends the last half of the book about how OSS and Army (& Wedemeyer)
gave china to the communists. They came in and wanted to take over the
whole (nationalists) operation. The US Navy and Nationalists rebuffed
them, so to get something they could take credit for, they support the
communists.
https://www.amazon.com/different-kind-war-little-known-guerrilla/dp/B0007IYOFW/
https://books.google.com/books/about/A_Different_Kind_of_War.html?id=U4pBAAAAIAAJ

However, it is also claimed that US believed that it needed Soviets to
defeat Japan (after the end of German hostilities) and part of
placating the Soviets was aiding Mao in Manchuria. After Germany, in
Manchuria there was 1.5M Soviets fighting 1M Japanese. By comparison
Okinawa, US had 600k fighting 76k Japanese. This covers a lot of
Soviets in WW2, including Manchuria.
https://www.amazon.com/HISTORICAL-PERSPECTIVES-OPERATIONAL-ART-ANTHOLOGY-ebook/dp/B0086W3GX2/

Marshall backs Wedemeyer & the Army, Wedemeyer testimony Dec 1947,
possibly realizes what was done wrong
http://web.archive.org/web/20110203103817/http://www.time.com/time/magazine/article/0,9171,804381,00.html
Marshall is SECSTATE (1947-1949) and State puts out white paper trying
to absolve State of blame for giving China to the communists
https://archive.org/details/VanSlykeLymanTheChinaWhitePaper1949
This has Marshall&Wedemeyer very close ... and then beginning red
scare era, Wedemeyer was telling Marshall one thing and the McCarthy
people something else
https://www.amazon.com/China-Mission-Marshalls-Unfinished-1945-1947/dp/0393240959/

loc5495-99:

Others joined in McCarthy's crusade. Wedemeyer helped quietly at
first, and then, having whispered darkly about Marshall ever since the
canceled ambassadorship, went public. Wedemeyer's self-congratulatory
memoir alleged that exhaustion and intellectual shortcomings had made
Marshall "easy prey to crypto-Communists, or Communist sympathizing
sycophants, who played on his vanity to accomplish their own ends."
Marshall's China mission, according to Wedemeyer, caused the
Nationalists to become "so disheartened and demoralized by our
attitude that they finally ceased to resist the Communists."

... snip ...

What if the Kuomintang Had Won the Chinese Civil War?
https://thediplomat.com/2015/12/what-if-the-kuomingtang-had-won-the-chinese-civil-war/

There would have been no Korean war, no domino theory, no vietnam?

Note: my wife's father was command of engineering combat group in
Europe, and after defeat of Germany, he was sent over in 1946 as
military adviser ("MAGIC") to Chang Kai Shek and he brought his family
over in 1947 to live in Nanking (my wife remembers being evacuated out
of Nanking in Army cargo plane on 3hrs notice when the city was
ringed).

--
virtualization experience starting Jan1968, online at home since Mar1970

A Tea Party Movement to Overhaul the Constitution Is Quietly Gaining

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: A Tea Party Movement to Overhaul the Constitution Is Quietly Gaining
Blog: Facebook
Date: 01 Oct 2018

re:
http://www.garlic.com/~lynn/2018f.html#9 A Tea Party Movement to Overhaul the Constitution Is Quietly Gaining
http://www.garlic.com/~lynn/2018f.html#11 A Tea Party Movement to Overhaul the Constitution Is Quietly Gaining
http://www.garlic.com/~lynn/2018f.html#15 A Tea Party Movement to Overhaul the Constitution Is Quietly Gaining
http://www.garlic.com/~lynn/2018f.html#19 A Tea Party Movement to Overhaul the Constitution Is Quietly Gaining

Representative Democracy
https://en.wikipedia.org/wiki/Representative_democracy
Criticisms
https://en.wikipedia.org/wiki/Representative_democracy#Criticisms

A drawback to this type of government is that elected officials are
not required to fulfill promises made before their election and are
able to promote their own self-interests once elected, providing an
incohesive system of governance.[21] Legislators are also under
scrutiny as the system of majority-won legislators voting for issues
for the large group of people fosters inequality among the
marginalized.[22]

... snip ...

references Oligarchy
https://en.wikipedia.org/wiki/Oligarchy
Putative oligarchies
https://en.wikipedia.org/wiki/Oligarchy#Putative_oligarchies
specific example United States
https://en.wikipedia.org/wiki/Oligarchy#United_States
references: Income inequality in the United States, Impact on
democracy and society
https://en.wikipedia.org/wiki/Income_inequality_in_the_United_States#Impact_on_democracy_and_society

inequality posts
http://www.garlic.com/~lynn/submisc.html#inequality

--
virtualization experience starting Jan1968, online at home since Mar1970

IBM today

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: IBM today
Newsgroups: alt.folklore.computers
Date: Mon, 01 Oct 2018 22:15:16 -0700

J. Clarke <jclarke.873638@gmail.com> writes:

Your point, with regard to the power consumption of mainframes
produced in 2018 being?

IBM has much less customer pressure to aggresively optimize
power&cooling, the latest generation of e5-2600v5 blade (now platinum,
gold, silver, etc) has possibly the aggregate processing BIPS rate
equivalent to ten max configured Z14 (@150BIPS/Z14) at 1/100,000 the
cost/BIPS ... as a result, power/cooling represents a relatively
insignificant part of Z14 lifetime cost (compare to cloud megadatacenter
blades).

The industry standard benchmarks now even include power/cooling per
transaction ... it has been a couple decades since IBM has published
industry standard benchmarks ... when it was still just
cost/transactions ... and before the move to also include
power/transaction.

PUE introduced in 2006 and large cloud megadacenters regularly
quote their values ... have also not seen any similar for any
mainframe datacenter
https://en.wikipedia.org/wiki/Power_usage_effectiveness

IBM article on datacenter PUE ... but fails to make any reference to
mainframe, highlights that it has the largest portfolio of registered data
centers ... but says nothing about the total number systems (large
cloud operation will have a dozen megadatacenters each with more than
half million systems)
https://www.ibm.com/ibm/environment/climate/datacenter_energy.shtml

this 2008 article says typical customers running X86 servers at 2-10%
utilization, but all drawing full energy ... can be consolidated on z/VM
mainframe using less total energy.
http://enterprisesystemsmedia.com/article/ibms-smoking-gun-proof-that-mainframes-are-the-most-energy-efficient-comput
same story also from decade ago
https://searchdatacenter.techtarget.com/news/1276233/IBM-mainframes-trounce-x86-servers-on-energy-efficiency-IBM-says

however, it doesn't mention this decade, customers were consolidating
10-20 X86 servers on standard X86 with X86 virtualization ... and standard
(X86) server improvements
http://www.tpc.org/information/press/tpcpress20100202.asp
TPC (benchmark) pricing
http://www.tpc.org/pricing/default.asp
and TPC (benchmark) energy
http://www.tpc.org/tpc_energy/default.asp

IBM claims z14 23% better power efficiency than z13 ... could get almost
that amount just from change to smallere circuit size.
z13, 140 processors, 100BIPS (710MIPS/proc), Jan2015
z14, 170 processors, 150BIPS (862MIPS/proc), Aug2017

It has been decades since ibm did mainframe industry standard benchmark
comparisons for cost/transaction which have since also evolved
power/transaction
http://www.tpc.org/tpc_energy/default.asp

megadatacenters are approaching 1.0 PUE ... with at least ten
times better power/transaction.
https://www.forbes.com/sites/forbestechcouncil/2017/12/15/why-energy-is-a-big-and-rapidly-growing-problem-for-data-centers/

z196 (max configured 50BIPS) era cloud datacenters used four core/chip,
two chip (8 processors) e5-2600v1 blades with processing rating of
400-530BIPS per blade (ten times z196). They went through v2, v3, and v4
generations before Intel rebranded platinum, gold, silver, bronze XEON
server chips. They currently run 4-28 cores/chip and 2-8 chips per
blade, aka 8-224 processors/blade (and 16-448 threads/blade) ... with
blades that easily exceed 1.5TIPS/blade (10-50 max. configured z14) and
typical megadatacenter with over half million such blades and large
cloud operator will have 6-12 such megadatacenters ... approach ten
million such blades. Their blade costs have dropped so dramatically that
even modest power efficiency improvements it is easy to totally
turn-over all blades. There volumes are so huge they have lots of clout
with server chip makers to get enhanced customized tailor chips.

IBM use to give aggregate mainframe systems revenue per year ... max.
configured systems have been pretty steady around $30M ... so it was
straight forward to calculate numbers of processor chips needed per year
(at six cores/chip). Also able to find chip size and calculate approx.
number of chips per (manufacturing fab) wafers ... and single minimum
size wafer run has providing enough processors for multiple year of
mainframe sales. Now they just give sales number with respect to
previous year ... so now to get a real number have to run thruough
several years of percent changes.

Introducing the IBM z14 Model ZR1, designed for the data-centric cloud
ecosystem, with maximum security and enterprise server quality
http://www-01.ibm.com/common/ssi/ShowDoc.wss?docURL=/common/ssi/rep_ca/8/897/ENUS118-018/index.html&request_locale=en

triva: recent z196 2M IOPS peak i/o throughput ref
http://www.garlic.com/~lynn/2018f.html#12 IBM mainframe today

required 104 FICONs (running over 104 FCS) ... while there was E5-2600
FCS announced claiming over million IOPS on single FCS. The
corresponding zHPF description claimed 30% improvement over standard
FICON ... and included doing a little bit of what I had done for STL
channel-extender in 1980 and included in the original FCS standard
definition.

for other trivia: I worked with Jim Gray at IBM SJR
http://www.tpc.org/information/who/gray.asp

--
virtualization experience starting Jan1968, online at home since Mar1970

A Tea Party Movement to Overhaul the Constitution Is Quietly Gaining

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: A Tea Party Movement to Overhaul the Constitution Is Quietly Gaining
Blog: Facebook
Date: 02 Oct 2018

re:
http://www.garlic.com/~lynn/2018f.html#9 A Tea Party Movement to Overhaul the Constitution Is Quietly Gaining
http://www.garlic.com/~lynn/2018f.html#11 A Tea Party Movement to Overhaul the Constitution Is Quietly Gaining
http://www.garlic.com/~lynn/2018f.html#15 A Tea Party Movement to Overhaul the Constitution Is Quietly Gaining
http://www.garlic.com/~lynn/2018f.html#19 A Tea Party Movement to Overhaul the Constitution Is Quietly Gaining
http://www.garlic.com/~lynn/2018f.html#20 A Tea Party Movement to Overhaul the Constitution Is Quietly Gaining

Inequality by itself kills nations, it is the "opportunity" for
innovation and change that energizes economies and makes them more
efficient. Recently inequality has increased and opportunity has
significantly decreased. "Why Nations Fail" also spends quite a bit of
time looking at independent action (supported by universal education)
contrasted to rigid, top-down, command&control.
https://www.amazon.com/Why-Nations-Fail-Prosperity-ebook/dp/B0058Z4NR8

Slight topic drift ... related to my "Why Nations Fail" comment. Early
80s, I was introduced to John Boyd and would sponsor his briefings at
IBM. When he was instructor at Nellis, he was considered possibly best
fighter pilot in the world. He had invented E/M theory used for
training fighter pilots and then designing fighter planes. He used it
for resign of the original F15 (including cutting weight nearly in
half) and then design of YF16 & YF17 which becomes F16 & F18. 1990,
the Marine Corps Commandant leveraged Boyd for make-over of the corps
... and we've continued to have meetings on the subject at Marine
Corps University at Quantico (the USAF bomber culture hated him and by
the time he passes the USAF had pretty much disowned him and it was
the Marines at Arlington). During briefings he would comment that US
business culture was being contaminated by former military officers
steeped in rigid, top-down, command&control (however, about this time,
articles were also starting to appear that MBAs were starting to
destory US businesses with myopic focus on short term quarterly
results). John Boyd's Art of War; Why our greatest military theorist
only made colonel.
http://www.theamericanconservative.com/articles/john-boyds-art-of-war/

Boyd posts and URLs
http://www.garlic.com/~lynn/subboyd.html

Original purpose of patent office in the constitution was to protect
creative/innovative individuals from institutions trying to preserve
existing status quo (disruptive innovation making economy more
efficient). Recently it has inverted, corporations doing enormous
numbers of defensive patents protecting status quo and inhibiting
innovation. Business schools now teach how to monopolize markets and
use patents to control innovation and change, preserving status
quo. The Price of Inequality: How Today's Divided Society Endangers
Our Future
https://www.amazon.com/Price-Inequality-Divided-Society-Endangers-ebook/dp/B007MKCQ30/

pg35/loc1169-73:

In business school we teach students how to recognize, and create,
barriers to competition -- including barriers to entry -- that help
ensure that profits won't be eroded. Indeed, as we shall shortly see,
some of the most important innovations in business in the last three
decades have centered not on making the economy more efficient but on
how better to ensure monopoly power or how better to circumvent
government regulations intended to align social returns and private
rewards.

... snip ...

"We the Corporations: How American Businesses Won Their Civil RIghts"
https://www.amazon.com/We-Corporations-American-Businesses-Rights-ebook/dp/B01M64LRDJ/

pg245/loc3881-87:

The notion that corporations should devote themselves to maximizing
profits is often taken to be one of the bedrock principles of
corporate law and governance. In the early history of corporations,
however, business corporations were much different; as Blackstone
wrote in his Commentaries, corporations could only be formed if they
served public purposes. Today, in part because of the Dartmouth
College case, that rule no longer applies, and modern business
corporations are considered private entities that need not serve any
explicitly public objective.

... snip ...

inequality posts
http://www.garlic.com/~lynn/submisc.html#inequality

some topic drift ... a couple former Oracle people (that I had worked
with on DBMS) were at small client/server startup responsible for
something called "commerce server" and I was brought in as consultant
because they wanted to do payment transactions on the server. The
startup had also done this technology they called "SSL" they wanted to
use, the result is now frequently called "electronic commerece". The
actual deployment preserved the existing institutions, business
processes and payment transactions fees (which actually increased
because they had significant portion prorated on fraud).

Because of having done "electronic commerce", I was asked to
participate in international financial standards. I authored a
transaction protocol and designed an enhanced payment card for both
point-of-sale and internet that would eliminate nearly all the
existing fraud. It had the downside of eliminating justification for
90% of payment fees (represented several score billions) and eliminate
barriers to entry for new payment processors ... effectively
commoditizing payment transaction business. Twenty years later and
still nothing has been done (originally, electronic commerce had no
downside for existing financial institutions).

total topic drift, I was also asked to talk to a group of hollywood
studios about how to change the movie distribution business. One of
the issues was theaters under reported admissions and could take six
months or more to settle payments (for showing film). Would it be
possible for studios to directly get accounting of admissions along
with immediate settlement of payments. They also wanted to throw in
move from film to digital (both recording & projection), using it to
address various piracy issues.

total trivia: earlier in 1983 I was asked to aid Berkeley 10m
project. They were looking at putting up new observatory on mountain
in Hawaii (they got funding from Keck foundation and was renamed Keck
observatory) ... also wanting to move from film to digital and
electronic transmission enabling remote observing from the
mainland. They were testing technology at Lick observatory (east of
San Jose) ... including 200x200 (40K pel) CCD. At the time, there was
rumors that Spielburg was playing with 2048x2048, 4M pel CCD; 16M pel
CCD quite common in cameras today. More movie trivia, when I first
moved to San Jose, one of my co-workers was member of San Jose
Astronomy club and would tell stories about Lucas would bring draft
scripts for eight star wars movies for the club to review.

--
virtualization experience starting Jan1968, online at home since Mar1970

Financial Sector Data Breaches Soar Despite Heavy Security Spending

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Financial Sector Data Breaches Soar Despite Heavy Security Spending
Blog: Facebook
Date: 03 Oct 2018

Financial Sector Data Breaches Soar Despite Heavy Security Spending;
Banks and other financial firms have disclosed three times as many
breaches so far this year than they did in 2016, Bitglass says.
https://www.darkreading.com/attacks-breaches/financial-sector-data-breaches-soar-despite-heavy-security-spending/d/d-id/1332958

we had been brought in to help wordsmith some cal. state
legislation. at the time they were working on electronic signature,
data breach notification (first in country), and opt-in personal
information sharing. many of the participants were involved in privacy
issues and done detailed public surveys and found that #1 issue was
identity theft, primarily involving fraudulent financial transactions
as a result of some breach. there was hope that publicity from the
notifications would result in corrective action. The problem is that
normally entities take security measures in self protection, however
in the case of most breaches, the institutions weren't at risk, it was
the public.

past posts
http://www.garlic.com/~lynn/submisc.html#data.breach.notification

--
virtualization experience starting Jan1968, online at home since Mar1970

LikeWar: The Weaponization of Social Media

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: LikeWar: The Weaponization of Social Media
Blog: Facebook
Date: 03 Oct 2018

LikeWar: The Weaponization of Social Media - An OODA-Loop interview
with P.W. Singer
https://www.oodaloop.com/OODA-original/2018/10/02/likewar-the-weaponization-of-social-media-an-OODA-loop-interview-with-p-w-singer/

In 1968, two spin-offs from the IBM cambridge science center formed to
provide commercial online services using CP/67-CMS (developed at the
science center). In the early 70s, TYMSHARE was also providing
commercial online services using VM370-CMS (followon to CP/67-CMS). In
AUG1976, TYMSHARE started providing its CMS-based online computer
conferencing free to (IBM user group) SHARE as VMSHARE ... archives
here http://vm.marist.edu/~vmshare

I arranged with TYMSHARE to get a updated monthly tape of all VMSHARE
files to make available on internal IBM systems and the internal IBM
network (larger than arpanet/internet from just about the beginning
until mid-80s) ... a major difficulty was with IBM lawyers that were
concerned that exposing IBM employees to customer information would
contaminate them. I was also blamed for online computer conferencing
(precursor to social media) on the internal network in the late 70s
and early 80s. Folklore is that when the corporate executive committee
was told about online computer conferencing (and the internal
network), 5of6 wanted to fire me.

Somewhat as a result, a researcher was paid to study how I communicate
... they sat in the back of my office for nine months taking notes
(face-to-face, telephone, etc), went with me to meetings, got copies
of all my incoming & outgoing email as well as logs of all instant
messages. The result was research reports, Stanford Phd (joint with
language and computer AI), papers, talks and books.

some past posts
http://www.garlic.com/~lynn/subnetwork.html#cmc

As online computer conferencing spread to larger audiences in the 80s,
saw various kinds of behavior appear ... one such started to be
referred to as "trolls" ... people trying to incite/provoke public
emotional arguments. Things got more complex with trolls assuming
multiple personas, taking multiple sides of an arguments, attempting
to bring others into the discussion.

a little drift: In the early 80s, I was introduced to John Boyd and
would sponsor his briefings at IBM. John Boyd's Art of War; Why our
greatest military theorist only made colonel.
http://www.theamericanconservative.com/articles/john-boyds-art-of-war/
in briefings he would include discussion of his OODA-loop
https://en.wikipedia.org/wiki/John_Boyd_(military_strategist)#The_OODA_Loop
and
https://en.wikipedia.org/wiki/OODA_Loop

--
virtualization experience starting Jan1968, online at home since Mar1970

LikeWar: The Weaponization of Social Media

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: LikeWar: The Weaponization of Social Media
Blog: Facebook
Date: 04 Oct 2018

re:
http://www.garlic.com/~lynn/2018f.html#24 LikeWar: The Weaponization of Social Media

We would have friday's after work with people from research, disk
engineering, STL, sometimes customers from silicon valley, etc
... usually at some place around the San Jose plant site, but would
sometimes stray over to Los Gatos (or other places). One of the
discussions was silver bullet to get management & executives to use
computers. One of the things we came up with was online telephone
books ... Jim Gray would spend no more than two weeks writing the
lookup app and I would spend no more than two weeks putting together
processors to acquire, reformat and redistribute the phone books. The
PROFS group would pick up internal applications and wrap menus around
them, including the phone book app and an early version of internal
VMSG for their email client.  The VMSG author attempts to offer them
an enhanced version and they tried to get him fired (because they had
taken credit for the email client). The whole thing quiets down when
the VMSG author demonstrates that his initials are in every PROFS
email (in nondisplayed field).

At some point late 1979 or early 1980, there was rapid spreading rumor
that top IBM executives where communicating via email and suddenly
every manager in the company needed a 3270 terminal on their
desk. This was in period when 3270 terminals weres part of annual
budget and required VP signoff ... and lots of justified development
3270 terminals disappeared to manager desks (which spent all day with
VM370 logo or PROFS menu being burned into screen, while their
assistants actually processed email). Unused terminals on managers
desk were still a status symbol a decade later with PS2/486 with large
screens being rerouted and spent the day unused for 3270 terminal
emulation (with vm370 logo or PROFS menu being burned into the screen)
in some manager's office.

Late 80s, there was PROFS issue in the executive branch ... where some
apparently believed if they deleted email, it totally disappeared (and
weren't on backup tapes). In the 90s, the executive branch started
preventing backup tapes from being made ... until GSA & NA tightened
up processes ... after the turn of the century the executive branch
started making extensive use of non-gov email (emails that disappeared
went from tens of thousand to millions).

Other tivia: we would have monthly user group meetings at SLAC and go
to Oasis afterwards.
https://padailypost.com/2018/04/14/the-puzzling-closure-of-the-oasis/
The first webserver in the US was on the SLAC VM370 system
http://www.slac.stanford.edu/history/earlyweb/history.shtml
http://www.slac.stanford.edu/history/earlyweb/firstpages.shtml

couple comments done for this thread in other discussion groups

Early 80s, I had project I called HSDT (high-speed data transport)
with (full-duplex) T1 and faster speed links. This included working
with director of NSF and we were suppose to get $20M to interconnect
the NSF supercomputer centers. Then congress cuts the budget, some
number of things happen and eventually NSF released RFP (in part based
on what we already had running) ... archived preliminary announcement
(28March1986)
http://www.garlic.com/~lynn/2002k.html#12
as regional networks connect into the centers, it morphs into the
NSFNET backbone, precursor to modern internet.
https://www.technologyreview.com/s/401444/grid-computing/

posts mentioning NSFNET
http://www.garlic.com/~lynn/subnetwork.html#nsfnet
HSDT posts
http://www.garlic.com/~lynn/subnetwork.html#hsdt
internal network posts
http://www.garlic.com/~lynn/subnetwork.html#internalnet

In addition to TCP, also had mainframe VNET (internal network, also
used for corporate sponsored BITNET) that I wanted to support. VNET
used the VM Spool which was a 4kbyte buffered synchronous API
(i.e. when buffer needed to be read or written, associated process was
disabled). Spool file system on 3330 might get 30-40 4k spool disk
I/Os per second ... but with multiple other users, VNET might be
limited to 4-8 4k spool disk I/Os per second or 16kbyte-32kbyte per
second (160kbit-320kbit/second). For full duplex T1, I needed
150kbytes/sec in each direction or 300kbytes/sec aggregate for each
T1.

In early 80s, I redid VM spool implementation in VS/Pascal running in
virtual address space ... VM kernel making spool upcalls to the spool
processor. It implemented support for asynchronous spool r/w
operations (VNET not disabled for execution while buffers being
read/written), large file contiguous allocation with multiple buffer
read/writes, as well as buffer read-ahead and write-behind. Eventual
objective was come close to 3mbyte/sec spool throughput on 3380 (sort
of analogous to the VM/SP ten page, full-track 3380 "swapping"
support). There was also some fancy new stuff spool file
speed&function for checkpoint and recovery. Also since it was isolated
in virtual address space, glitches didn't take down the VM service
(spool was no longer direct function of the underlying kernel). Also
kernel implementation used serial search of spool file lists ... which
became really processor expensive with large number of files. I
implemented combination tree/hash that ran significantly faster (with
large number of files) ... significantly increased the spool file
records/sec at the same time using less processor.

It never did get very wide use, in part because the communication
group didn't support anything more than 56kbits/sec links on their
37x5 products. The communication group also tried hard to block
release of the VM370 TCP/IP product (implemented in VS/Pascal) ... and
when they couldn't, the said they had to release it (since they had
corporate strategic responsibility for everything that cross
datacenter wall). What initially shipped got 44kbytes/sec throughput
using nearly whole 3090 CPU. I then did the enhancements to support
RFC1044 and in some tuning tests at Cray Research between 4341 and
Cray, got sustained channel throughput using only modest amount of
4341 processor (possibly 500 times improvement in bytes moved per
instruction executed).

RFC1044 posts
http://www.garlic.com/~lynn/subnetwork.html#1044

AWD had done their own AT-bus (16bit) 4mbit T/R card for
PC/RT. However for RS/6000, AWD wasn't allowed to do their own cards
and had to do PS2 microchannel cards ... that were all implemented
with low-throughput design point. For instance the PS2 microchannel
16mbit T/R card had lower per card throughput (aka 300+ cards design
point sharing single LAN bandwidth doing terminal emulation) than the
PC/RT 4mbit T/R (PC/RT server having higher thruput than RS/6000
server). Similar problems with all the other PS2 cards (joke that it
would limit RS/6000 to thruput of PS2) ... finally AWD did RS/6000 730
with VMEbus to get around the internal politics not allowing them to
do their own (microchannel) cards (and used industry standard high
speed VMEbus cards).

Late 80s, my wife wrote 3-tier architecture with ethernet and some
other high-speed stuff into response for gov. super high-security
high-throughput large campus request ... and then we were out doing
customer executive presentations on the design. This earned us lots of
arrows in the back from communication group, SNA, SAA, and token-ring
forces. Some of the arrows was Dallas E/S did a report showing 16mbit
T/R was far superior to 10mbit ethernet (however it appeared that they
used original ethernet 3mbit/sec prototype before ethernet CSMA/CD
standard). Note, the new Almaden Research bldg had been done with lots
of CAT5 (assuming 16mbit T/R) but found that running 10mbit ethernet
over CAT5 had more aggregate LAN throughput, more per card LAN
throughput, and lower latency (than 16mbit T/R).

Part of the issues was that SNA didn't have a network layer ... which
contributed to configurations with hundreds of T/R cards sharing
common 16mbit LAN (less than half that effective aggregate
throughput). For less cost than 300 16mbit T/R cards, could have 300
high-performance ethernet cards with non-IBM channel interface RFC1044
router supporting up to 16 ethernet lans ... ten of the lans with 30
machines/lan (more per LAN throughput plus 1/10th the stations/lan,
high-speed router stitching it together) and six of the lans with
high-speed (RS/6000) servers ... plus high-speed channel interface.

3-tier posts
http://www.garlic.com/~lynn/subnetwork.html#3tier
801/risc, romp, pc/rt, rios, rs/6000, etc posts
http://www.garlic.com/~lynn/subtopic.html#801

--
virtualization experience starting Jan1968, online at home since Mar1970

America's new aristocracy lives in an accountability-free zone

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: America's new aristocracy lives in an accountability-free zone
Blog: Facebook
Date: 06 Oct 2018

America's new aristocracy lives in an accountability-free zone
https://www.theguardian.com/commentisfree/2018/oct/05/americas-new-aristocracy-live-accountability-free-zone-david-sirota

Rhetoric on the floor of congress was that Sarbanes-Oxley would
prevent future ENRONs and guarantee that executives and auditors did
jailtime, however it required SEC to do something. Possibly because
even GAO didn't believe SEC was doing anything, it started doing
reports of public company fraudulent financial reports ... even
showing uptic after SOX goes into effect (and nobody doing
jailtime). Joke was that congress felt so badly that one of the big
accounting firms went out of business, the added stringent audit
processes was just a large gift to the audit industry ... but would
change nothing.

Somewhat related, during the congressional Madoff hearings, they had
the person that had tried unsuccessfully for a decade to try and get
SEC to do something about Madoff (SEC's hands were forced when Madoff
turned himself in). Congress asked if new regulations were needed. He
responded that while new regulations might be needed, much more
important was transparency and visibility (possibly because SEC wasn't
doing anything with the regulations they had).

ENRON posts
http://www.garlic.com/~lynn/submisc.html#enron
Madoff posts
http://www.garlic.com/~lynn/submisc.html#madoff
Financial Reporting Fraud posts
http://www.garlic.com/~lynn/submisc.html#financial.reporting.fraud
Inequality posts
http://www.garlic.com/~lynn/submisc.html#inequality

--
virtualization experience starting Jan1968, online at home since Mar1970

LikeWar: The Weaponization of Social Media

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: LikeWar: The Weaponization of Social Media
Blog: Facebook
Date: 06 Oct 2018

re:
http://www.garlic.com/~lynn/2018f.html#24 LikeWar: The Weaponization of Social Media
http://www.garlic.com/~lynn/2018f.html#25 LikeWar: The Weaponization of Social Media

other triva, in middle 80s, internal network (VNET) still wasn't
SNA. For 37x5 controllers, ran bisynch with "Y-adapter" ... two
subchannel address to get concurrent, full-duplex transmission in both
directions ... had much higher throughput than running SNA. I tried to
get presentation at the VNET governing board on how to improve much
higher throughput. However this was in period when the communication
group was spreading lots of internal misinformation ... including
presentations to corporate executive committee; VNET would stop
working if not converted to SNA, NSF could run over SNA, etc. They
also got VNET governing board restricted to managers and technical
people no longer allowed to participate.

Somebody collected a lot of the communication group NSF SNA
misinformation email and forwarded it to us ... significantly clipped
and redacted to protect the guilty
http://www.garlic.com/~lynn/2006w.html#email870109

They also had presentation to the corporate executive committee that
customers wouldn't need T1 support until sometime in the 90s. The
showed stats for customer 37x5 "fat pipes" (multiple parallel 56kbit
links treated as single logical link), number of customers
configurations with 2, 3, 4, 5 ... dropping to zero by six. What they
didn't know (or didn't show) was that telco tariffs for 5-6 56k links
was about the same as single T1 link. We relatively easily found 200
customers with T1 links ... but had switched to non-IBM controller
interface.

hsdt posts
http://www.garlic.com/~lynn/subnetwork.html#hsdt
internal network posts
http://www.garlic.com/~lynn/subnetwork.html#internalnet
NSFNET posts
http://www.garlic.com/~lynn/subnetwork.html#nsfnet

--
virtualization experience starting Jan1968, online at home since Mar1970

America's electoral system gives the Republicans advantages over Democrats

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: America's electoral system gives the Republicans advantages over Democrats
Blog: Facebook
Date: 07 Oct 2018

America's electoral system gives the Republicans advantages over Democrats
https://www.economist.com/briefing/2018/07/12/americas-electoral-system-gives-the-republicans-advantages-over-democrats

Fareed just called out political strife and conflict got much worse
with speaker Gingrich. In 1999, after we were asked to help prevent
the coming economic mess (we failed), one of other things we were told
was that there has always been conflict between the two parties, but
they could put their differences aside and come together to do things
for the country. With Gingrich, everything came to be about party
advantage and level of party conflict and strife got ten times
worse. Now everything is Kabuki dance/theater ... what you see is
distraction for the public (like Roman circus) and has little to do
with what is really going on.

economic mess posts
http://www.garlic.com/~lynn/submisc.html#economic.mess
Kabuki theater posts
http://www.garlic.com/~lynn/submisc.html#kabuki.theater

McMaster's
https://en.wikipedia.org/wiki/H._R._McMaster
PHD thesis
https://www.amazon.com/Dereliction-Duty-Johnson-McNamara-Chiefs-ebook/dp/B004HW7834/

based (in part) on (then recently) released classified information
says that Johnson's staff told him the Vietnam war was not winnable,
but it in court of world opinion, it would be better to go ahead fight
and loose.

military-industrial(-congressional) complex posts
http://www.garlic.com/~lynn/submisc.html#military.industrial.comple

Then in the paris peace talks, Nixon committed treason convincing
N. Vietnam to not settle until after the presidential election.

Article Three of the United States Constitution
https://en.wikipedia.org/wiki/Article_Three_of_the_United_States_Constitution
U.S. Constitution - Article III
https://www.law.cornell.edu/constitution/articleiii
18 US Code 2381 - Treason
https://www.law.cornell.edu/uscode/text/18/2381

Whoever, owing allegiance to the United States, levies war against
them or adheres to their enemies, giving them aid and comfort within
the United States or elsewhere, is guilty of treason and shall suffer
death, or shall be imprisoned not less than five years and fined under
this title but not less than $10,000; and shall be incapable of
holding any office under the United States.

... snip ...

George Will Confirms Nixon's Vietnam Treason
http://www.commondreams.org/views/2014/08/12/george-will-confirms-nixons-vietnam-treason
Declassified LBJ Tapes Accuse Richard Nixon of Treason
http://news.slashdot.org/story/13/03/21/0331256/declassified-lbj-tapes-accuse-richard-nixon-of-treason
The Lyndon Johnson tapes: Richard Nixon's 'treason'
http://www.bbc.co.uk/news/magazine-21768668
Newly Released Secret Tapes Reveal LBJ Knew but Never Spoke Out About Nixon's 'Treason'
http://www.thewire.com/national/2013/03/newly-released-secret-tapes-reveal-lbj-knew-never-spoke-out-about-nixons-treason/63188/
Did Nixon Commit Treason in 1968? What The New LBJ Tapes Reveal.
http://historynewsnetwork.org/article/60446
Richard Nixon at 100: not just criminal, but treasonous too
http://www.theguardian.com/commentisfree/2013/jan/10/richard-nixon-100-criminal-traitor
Yes, Nixon Scuttled the Vietnam Peace Talks - John Aloysius Farrell
http://www.politico.com/magazine/story/2014/06/yes-nixon-scuttled-the-vietnam-peace-talks-107623.html
Richard Nixon's long shadow
https://www.washingtonpost.com/opinions/george-f-will-nixons-long-shadow/2014/08/06/fad8c00c-1ccb-11e4-ae54-0cfe1f974f8a_story.html
Nixon's Treason Now Acknowledged
http://www.washingtonsblog.com/2014/08/nixons-treason-now-acknowledged.html
Fleshing Out Nixon's Vietnam 'Treason'
https://consortiumnews.com/2014/09/08/fleshing-out-nixons-vietnam-treason/

Reagan and Iran ... hostage crisis resolved on the very day Reagan was
inaugurated
https://www.merip.org/mer/mer151/reagans-iran
... and then The Profiteers: Bechtel and the Men Who Built the World
https://www.amazon.com/Profiteers-Bechtel-Men-Built-World-ebook/dp/B010MHAHV2/
loc2752-54:

Pollard had accidentally "busted the most secret White House operation
of modern times," as one account put it. "Neither Pollard nor the
government of Israel was aware that they had smashed George Bush's
first shipment of arms to Iran."

... snip ...

--
virtualization experience starting Jan1968, online at home since Mar1970

America's electoral system gives the Republicans advantages over Democrats

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: America's electoral system gives the Republicans advantages over Democrats
Blog: Facebook
Date: 07 Oct 2018

re:
http://www.garlic.com/~lynn/2018f.html#28 America's electoral system gives the Republicans advantages over Democrats

more Bush family, Iraq (& Saudi)

CIA director Colby refuses to approve "Team B" analysis claiming huge
Russian military capability, justifying huge US military spending
increase.
https://en.wikipedia.org/wiki/Team_B

White House Chief of Staff Rumsfeld gets Colby replaced with somebody
(Bush1) that will agree with "Team B" analysis. Rumsfeld then resigns
to become SECDEF (and is replaced by his assistant Cheney).

In the 80s, US support Iraq in the iran/iraq war
http://en.wikipedia.org/wiki/Iran%E2%80%93Iraq_War
Bush1 is VP and Rumsfeld is involved in supporting Iraq, including
supplying WMDs
http://en.wikipedia.org/wiki/United_States_support_for_Iraq_during_the_Iran%E2%80%93Iraq_war

In the early 90s, Bush1 is president and Cheney is SECDEF. Sat. photo
recon analyst told white house that saddam was marshaling forces to
invade Kuwait. White house said that saddam would do no such thing and
proceeded to discredit the analyst. Later the analyst informed the
white house that saddam was marshaling forces to invade Saudi Arabia,
now the white house has to choose between saddam and the Saudis.
https://www.amazon.com/Long-Strange-Journey-Intelligence-ebook/dp/B004NNV5H2/

This century, Bush2 is president, Cheney is VP, Rumsfeld is SECDEF and
one of the "Team B" members is deputy SECDEF (and major architect of
Iraq policy).
https://en.wikipedia.org/wiki/Paul_Wolfowitz

Before the invasion, the cousin of white house chief of staff Card
... was dealing with the Iraqis at the UN and was given evidence that
WMDs (tracing back to US in the Iran/Iraq war) had been
decommissioned. the cousin shared it with Card, Powell and others
... then is locked up in military hospital, book was published in 2010
(4yrs before decommissioned WMDs were declassified)
https://www.amazon.com/EXTREME-PREJUDICE-Terrifying-Story-Patriot-ebook/dp/B004HYHBK2/

NY Times series from 2014, the decommission WMDs (tracing back to US
from Iran/Iraq war), had been found early in the invasion, but the
information was classified for a decade
http://www.nytimes.com/interactive/2014/10/14/world/middleeast/us-casualties-of-iraq-chemical-weapons.html

and military-industrial-complex wanted a war so badly that corporate
reps were telling former eastern block countries that if they voted
for IRAQ2 invasion in the UN, they would get membership in NATO and
(directed appropriation) USAID (can *ONLY* be used for purchase of
modern US arms). From the law of unintended consequences, the invaders
were told to bypass ammo dumps looking for WMDs, when they got around
to going back, over a million metric tons had evaporated.
https://www.amazon.com/Prophets-War-Lockheed-Military-Industrial-ebook/dp/B0047T86BA/

perpetual war posts
http://www.garlic.com/~lynn/submisc.html#perpetual.war
military-industrial(-congressional) complex posts
http://www.garlic.com/~lynn/submisc.html#military.industrial.comple
WMD posts
http://www.garlic.com/~lynn/submisc.html#wmds

... also (back to the 80s), VP and former CIA director repeatedly
claims no knowledge of
http://en.wikipedia.org/wiki/Iran%E2%80%93Contra_affair
because he was fulltime administration point person deregulating
financial industry ... creating S&L crisis
http://en.wikipedia.org/wiki/Savings_and_loan_crisis
along with other members of his family
http://en.wikipedia.org/wiki/Savings_and_loan_crisis#Silverado_Savings_and_Loan
and another
http://query.nytimes.com/gst/fullpage.html?res=9D0CE0D81E3BF937A25753C1A966958260

S&L crises posts
http://www.garlic.coom/~lynn/submisc.html#s&l.crisis

last decade (after turn of century) another family member is president
and presides over the economic mess 70 times larger than the S&L
crises. S&L crisis had 1000 criminal convictions with jailtime,
proportionally the economic mess should have 70,000 (criminal
convictions with jailtime), so far nobody.

America's new aristocracy lives in an accountability-free zone
https://www.theguardian.com/commentisfree/2018/oct/05/americas-new-aristocracy-live-accountability-free-zone-david-sirota

economic mess posts
http://www.garlic.com/~lynn/submisc.html#economic.mess

--
virtualization experience starting Jan1968, online at home since Mar1970

Scientists Just Laid Out Paths to Solve Climate Change. We Aren't on Track to Do Any of Them

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Scientists Just Laid Out Paths to Solve Climate Change. We Aren't on Track to Do Any of Them
Blog: Facebook
Date: 08 Oct 2018

Scientists Just Laid Out Paths to Solve Climate Change. We Aren't on
Track to Do Any of Them
http://time.com/5418134/ipcc-climate-change-report-2030-crisis/

Some of the same people for hire did papers for the tobacco industry,
also helped spin "team b" results, and more recently doing articles
for fossil fuel industry, including dragging in religion. Merchants
of Doubt: How a Handful of Scientists Obscured the Truth on Issues
from Tobacco Smoke to Global Warming
https://en.wikipedia.org/wiki/Merchants_of_Doubt
http://www.merchantsofdoubt.org/
https://www.amazon.com/Merchants-Doubt-Handful-Scientists-Obscured-ebook/dp/B003RRXXO8/
http://www.economist.com/node/16374460

Which as been used before, after entry WW2, 5000 industrialists from
across the US had conference at NYC Waldorf-Astoria and in part
because they had gotten such bad reputation for the depression and
supporting Nazi Germany, they approved a major propaganda campaign to
equate capitalism with Christianity
https://www.amazon.com/One-Nation-Under-God-Corporate-ebook/dp/B00PWX7R56/
part of the result by the early 50s was adding "in god we trust" to
money and "under god" to the pledge of allegiance.

earlier

June1940, Germany had a victory celebration at the NYC Waldorf-Astoria
with major industrialists. Lots of them were there to hear how to do
business with the Nazis
https://www.amazon.com/Man-Called-Intrepid-Incredible-Narrative-ebook/dp/B00V9QVE5O/

John Foster Dulles played major role in rebuilding Germany's economy,
industry and military 20s thru early 40s. The Brothers: John Foster
Dulles, Allen Dulles, and Their Secret World War,
https://www.amazon.com/Brothers-Foster-Dulles-Allen-Secret-ebook/dp/B00BY5QX1K/

loc905-7:

Foster was stunned by his brother's suggestion that Sullivan &
Cromwell quit Germany. Many of his clients with interests there,
including not just banks but corporations like Standard Oil and
General Electric, wished Sullivan & Cromwell to remain active
regardless of political conditions.

loc938-40:

At least one other senior partner at Sullivan & Cromwell, Eustace
Seligman, was equally disturbed. In October 1939, six weeks after the
Nazi invasion of Poland, he took the extraordinary step of sending
Foster a formal memorandum disavowing what his old friend was saying
about Nazism

... snip ...

From the law of unintended consequences; 1943 US Strategic Bombing
Program, they needed German industrial and military targets and
coordinates, they got the information and detailed plans from
wallstreet.

Tying capitalism&religion in the 50s had misdirection involving the
red menace ... including claims that John Foster Dulles said he was
supporting the Nazis as a counter-force to Soviets.

Exxon Agrees to Disclose Climate Risks Under Pressure from Investors;
In an SEC filing, the oil giant dropped its opposition to a
shareholder demand for disclosure. Exxon also faces climate fraud
investigations by two states.
https://insideclimatenews.org/news/12122017/exxon-climate-risk-disclosure-sec-shareholder-investigation-pressure
Exxon Climate
https://insideclimatenews.org/tags/exxon-climate-change-investigation

trivia: "Standard Oil" in the John Foster Dulles reference
... supporting the Nazis ... is now EXXON
https://en.wikipedia.org/wiki/ExxonMobil

It is the largest direct descendant of John D. Rockefeller's Standard
Oil Company,[2] and was formed on November 30, 1999 by the merger of
Exxon (formerly the Standard Oil Company of New Jersey) and Mobil
(formerly the Standard Oil Company of New York).

... snip ...

more fossil fuel (needing religion obfuscation and misdirection),
June1940 Waldorf-Astoria victory celebration
https://www.amazon.com/Man-Called-Intrepid-Incredible-Narrative-ebook/dp/B00V9QVE5O/
loc1925-29:

One prominent figure at the German victory celebration was Torkild
Rieber, of Texaco, whose tankers eluded the British blockade. The
company had already been warned, at Roosevelt's instigation, about
violations of the Neutrality Law. But Rieber had set up an elaborate
scheme for shipping oil and petroleum products through neutral ports
in South America. With the Germans now preparing to turn the English
Channel into what Churchill thought would become "a river of blood,"
other industrialists were eager to learn from Texaco how to do more
business with Hitler.

... snip ...

past posts mentioning "merchants of doubt"
http://www.garlic.com/~lynn/2013c.html#16 A Matter of Mindset: Iraq, Sequestration and the U.S. Army
http://www.garlic.com/~lynn/2013d.html#62 What Makes an Architecture Bizarre?
http://www.garlic.com/~lynn/2013e.html#5 Lessons Learned from the Iraq War
http://www.garlic.com/~lynn/2013e.html#54 What Makes an Architecture Bizarre?
http://www.garlic.com/~lynn/2013f.html#7 What Makes an Architecture Bizarre?
http://www.garlic.com/~lynn/2013h.html#41 Is newer technology always better? It almost is. Exceptions?
http://www.garlic.com/~lynn/2013i.html#89 What Makes an Architecture Bizarre?
http://www.garlic.com/~lynn/2013k.html#59 John Boyd's Art of War
http://www.garlic.com/~lynn/2013m.html#52 Steve B sees what investors think
http://www.garlic.com/~lynn/2013m.html#80 The REAL Reason U.S. Targets Whistleblowers
http://www.garlic.com/~lynn/2014b.html#31 An insider's story of the global attack on climate science
http://www.garlic.com/~lynn/2014d.html#47 Stolen F-35 Secrets Now Showing Up in China's Stealth Fighter
http://www.garlic.com/~lynn/2014h.html#22 $40 billion missile defense system proves unreliable
http://www.garlic.com/~lynn/2014h.html#73 10 Big Fat Lies and the Liars Who Told Them
http://www.garlic.com/~lynn/2014m.html#100 OT: article on foreign outsourcing
http://www.garlic.com/~lynn/2015.html#24 Forget the McDonnells. We're ignoring bigger, more pernicious corruption right under our noses
http://www.garlic.com/~lynn/2015e.html#34 43rd President
http://www.garlic.com/~lynn/2015e.html#63 12 Reasons America Doesn't Win Its Wars
http://www.garlic.com/~lynn/2015f.html#1 Jeb: George W. Bush is a top foreign policy adviser
http://www.garlic.com/~lynn/2015f.html#76 Pentagon remains stubbornly unable to account for its billions
http://www.garlic.com/~lynn/2015f.html#90 1973--TI 8 digit electric calculator--$99.95
http://www.garlic.com/~lynn/2015f.html#92 1973--TI 8 digit electric calculator--$99.95
http://www.garlic.com/~lynn/2015g.html#38 1973--TI 8 digit electric calculator--$99.95
http://www.garlic.com/~lynn/2016f.html#47 British socialism / anti-trust
http://www.garlic.com/~lynn/2017.html#26 Milton Friedman's Cherished Theory Is Laid to Rest
http://www.garlic.com/~lynn/2017d.html#59 Breaking: Entire Nation Experiencing Collective Amnesia About Iraq War
http://www.garlic.com/~lynn/2017i.html#13 Merchants of Doubt
http://www.garlic.com/~lynn/2017i.html#55 How Economists Turned Corporations into Predators
http://www.garlic.com/~lynn/2017i.html#84 "Worse Than Big Tobacco": How Big Pharma Fuels the Opioid Epidemic
http://www.garlic.com/~lynn/2017j.html#63 Sugar Industry Long Downplayed Potential Harms
http://www.garlic.com/~lynn/2018b.html#45 More Guns Do Not Stop More Crimes, Evidence Shows
http://www.garlic.com/~lynn/2018b.html#114 Chevron's lawyer, speaking for major oil companies, says climate change is real and it's your fault
http://www.garlic.com/~lynn/2018c.html#6 Iraq Invasion
http://www.garlic.com/~lynn/2018c.html#14 Air Force Risks Losing Third of F-35s If Upkeep Costs Aren't Cut
http://www.garlic.com/~lynn/2018c.html#19 How China's New Stealth Fighter Could Soon Surpass the US F-22 Raptor
http://www.garlic.com/~lynn/2018c.html#94 Barb
http://www.garlic.com/~lynn/2018e.html#16 America Celebrates Lateral Move From Monarchy To Corporate Rule

--
virtualization experience starting Jan1968, online at home since Mar1970

US Auto Industry

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: US Auto Industry
Blog: Facebook
Date: 08 Oct 2018

70s, congress established quotas to reduce competition and give US
industry huge profits that they were suppose to use to remake
themselves, put they just pocketed the money and continued business
as usual. Early 80s, there was call for 100% unearned profit tax on
the industry because they were just pocketing the money.

1990, the industry had the C4 task force to look at completely
remaking themselves ... and because they were planning on heavy
leveraging technology, they invited technology vendors to send
representatives. During the sessions they could accurately describe
what the competition was doing better, what they were doing, and what
they had to change. One of the issues was that they were taking 7-8yrs
from start to rolling off the line (with two efforts running in
parallel, offset 3-4yrs to make it look like something new more
frequently). The major players had spun off their parts businesses and
over 7-8yr period, parts used in original design were no longer
available. A major example was corvette with tight space tolerances
under the "skin" where there had to redesign, rework and further
delays because of how parts changed. The foreign competition had cut
that 7-8yrs product cycle in half in the 1st part of the 80s and 1990,
there were in the process of cutting it in half again (much more
efficient and four times faster reacting to changes in market and
technology). Offline I would chide the IBM mainframe brethren how did
they expect to contribute because at the time they had similar
problems.

auto industry c4 task force posts
http://www.garlic.com/~lynn/submisc.html#auto.c4.taskforce

Roll forward to the bailouts ... even tho they knew what they needed
to do, the various stakeholders still managed to maintain the status
quo.

since brought up, Jan1999 I was asked to help try and prevent the
coming economic mess (we failed). I was to improve the integrity of
securitized mortgage documents (as countermeasure). However, they find
that they can pay for triple-A rating (when rating agencies knew they
weren't worth triple-A, from Oct2008 congressional hearings into the
role that rating agencies played in the economic mess). Triple-A
rating trumps supporting documents and they can start doing
no-documentation liar loans, triple-A significantly contributing to
selling over $27T 2001-2008 (including to entities restricted to only
dealing in "safe" investments, like large pension funds) and no longer
having to care about borrowers' qualification or loan quality, just
how fast they can turn them over.

triple-a (toxic) assets
http://www.garlic.com/~lynn/submisc.html#toxic.cdo

they then find that they can do securitized loans designed to fail,
pay for triple-A, sell into the bond market, and take out CDS gambling
bets that they will fail, creating enormous demand for dodgy loans
(now they care about borrowers' qualifications, but not in the
traditional way). AIG is the largest holder of the CDS gambling bets
and was negotiating to pay off at 50cents on the dollar when the
SECTREAS steps in fall of 2008 and has them sign document that they
can't sue those making the CDS gambling bets and take TARP funds to
pay off at face value. The largest recipient of TARP funds is AIG and
the largest recipient of face value payoffs is firm formally headed by
SECTREAS.

In 2008, the SECTREAS had convinced congress to appropriate TARP
funds, supposedly to buy too big to fail off-book toxic assets, but
with just $700B ... it wouldn't hardly make a dent in the problem,
when just the four largest TBTF were holding $5.2T ye2008. As a result
it was left to the Federal Reserve to do the real bailout (trillions
buying toxic assets, and tens of trillions in ZIRP funds), and
SECTREAS used TARP for other things (besides AIG, Bush/SECTREAS GM
bailout 19Dec2008; also fall2008, there was tens of billions for some
TBTF, but that was mostly for cosmetic purposes).

economic mess posts
http://www.garlic.com/~lynn/submisc.html#economic.mess
too big to fail (too big to prosecute, too big to jail) posts
http://www.garlic.com/~lynn/submisc.html#too-big-to-fail

Federal Reserve fought long legal battle to prevent disclosing the
"real" TBTF bailout. When they lost, FED Chairman holds press
conference saying that he thought the TBTF would use ZIRP funds to
help mainstreet, but when they didn't, he had no way to force them
(however, that didn't stop the tens of trillions in ZIRP funds). Note
that the FED Chairman was chosen in part because he supposedly was
depression era scholar. However, the FED had tried something similar
then with the same results, so the Chairman should have had no
expectation of a different result this time.

Fed chairman posts
http://www.garlic.com/~lynn/submisc.html#fed.chairman
ZIRP posts
http://www.garlic.com/~lynn/submisc.html#zirp

Jan2009 (decade after being asked to help try and prevent economic
mess), I'm asked to HTML'ize the Pecora Hearings (30s senate hearings
into the '29 crash, resulting in criminal convictions and
Glass-Steagall) with lots of internal HREFs and URLs between what
happened this time and what happened then (comments that the new
congress might have an appetite to do something). I work on it and
then get a call saying it won't be needed after all (references that
capital hill was buried under enormous mountains of wall street cash).

'29 crash, Pecora Hearings and/or Glass-Steagall posts
http://www.garlic.com/~lynn/submisc.html#Pecora&/orGlass-Steagall

Some IBM related I mentioned two CP/67-CMS spin-offs 1968 ... both of
them move up the value chain to providing services to financial
industry. Jan2009, one of them is briefly mentioned in the news as
helping with evaluating the off-book toxic assets for TARP purchases
... which never happened. It turns out that they had previously bought
the pricing services division from one of the major rating agencies,
but then there was also lots of news about how hard it would be to
accurately evaluate the securitized toxic assets. However, the real
problems were 1) no-documentation, liar loans w/o supporting
documents, 2) not enough money to actually make a dent in the problem,
3) earlier in 2008, several tens of billions had been sold at 22cents
on the dollar (marked at 22cents on the dollar, just the four
largest TBTF would have had to book four trillion in
losses). What actually happened is that the FED bought trillions at
98cents on the dollar (w/o needing evaluation).

pricing service division past posts
http://www.garlic.com/~lynn/2009.html#21 Banks to embrace virtualisation in 2009: survey
http://www.garlic.com/~lynn/2009.html#31 Banks to embrace virtualisation in 2009: survey
http://www.garlic.com/~lynn/2009.html#32 What are the challenges in risk analytics post financial crisis?
http://www.garlic.com/~lynn/2009.html#42 Lets play Blame Game...?
http://www.garlic.com/~lynn/2009.html#52 The Credit Crunch: Why it happened?
http://www.garlic.com/~lynn/2009.html#77 CROOKS and NANNIES: what would Boyd do?
http://www.garlic.com/~lynn/2009.html#79 The Credit Crunch: Why it happened?
http://www.garlic.com/~lynn/2009b.html#38 A great article was posted in another BI group: "To H*** with Business Intelligence: 40 Percent of Execs Trust Gut"
http://www.garlic.com/~lynn/2009b.html#49 US disaster, debts and bad financial management
http://www.garlic.com/~lynn/2009b.html#53 Credit & Risk Management ... go Simple ?
http://www.garlic.com/~lynn/2009b.html#78 How to defeat new telemarketing tactic
http://www.garlic.com/~lynn/2009c.html#1 Audit II: Two more scary words: Sarbanes-Oxley
http://www.garlic.com/~lynn/2009e.html#15 The background reasons of Credit Crunch
http://www.garlic.com/~lynn/2009e.html#53 Are the "brightest minds in finance" finally onto something?
http://www.garlic.com/~lynn/2009e.html#70 When did "client server" become part of the language?
http://www.garlic.com/~lynn/2009f.html#41 On whom or what would you place the blame for the sub-prime crisis?
http://www.garlic.com/~lynn/2009f.html#49 Is the current downturn cyclic or systemic?
http://www.garlic.com/~lynn/2009h.html#40 Analysing risk, especially credit risk in Banks, which was a major reason for the current crisis
http://www.garlic.com/~lynn/2009n.html#20 UK issues Turning apology (and about time, too)
http://www.garlic.com/~lynn/2009n.html#68 Opinions on the 'Unix Haters' Handbook'
http://www.garlic.com/~lynn/2009q.html#47 Is C close to the machine?
http://www.garlic.com/~lynn/2010c.html#48 Happy DEC-10 Day
http://www.garlic.com/~lynn/2010d.html#4 alphas was: search engine history, was Happy DEC
http://www.garlic.com/~lynn/2010e.html#52 LPARs: More or Less?
http://www.garlic.com/~lynn/2010i.html#49 "Fraud & Stupidity Look a Lot Alike"
http://www.garlic.com/~lynn/2011d.html#25 The first personal computer (PC)
http://www.garlic.com/~lynn/2011j.html#45 S&P's History of Relentless Political Advocacy
http://www.garlic.com/~lynn/2011j.html#50 How Many Divisions Does Standard and Poors Have?
http://www.garlic.com/~lynn/2012c.html#46 PC industry is heading for more change
http://www.garlic.com/~lynn/2013b.html#35 Adair Turner: A New Debt-Free Money Advocate
http://www.garlic.com/~lynn/2013c.html#66 How to Cut Megabanks Down to Size
http://www.garlic.com/~lynn/2013d.html#67 What Makes an Architecture Bizarre?
http://www.garlic.com/~lynn/2013j.html#57 The Internet: Missing the Light
http://www.garlic.com/~lynn/2013k.html#82 spacewar
http://www.garlic.com/~lynn/2014b.html#2 Royal Pardon For Turing
http://www.garlic.com/~lynn/2014k.html#0 only sometimes From looms to computers to looms
http://www.garlic.com/~lynn/2015f.html#16 Interactive Data Corp taps banks for sale or IPO -sources
http://www.garlic.com/~lynn/2016.html#95 Thanks Obama
http://www.garlic.com/~lynn/2016d.html#19 Banking; The Book That Will Save Banking From Itself
http://www.garlic.com/~lynn/2017h.html#60 Pareto efficiency

--
virtualization experience starting Jan1968, online at home since Mar1970

Banking via home computers/internet is a disaster for the computer world

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: Banking via home computers/internet is a disaster for the computer world.
Newsgroups: comp.arch
Date: Wed, 10 Oct 2018 22:38:57 -0700

MitchAlsup <MitchAlsup@aol.com> writes:

Anyone who does their banking on a computer,
not under the roof of their bank office,
is simply asking for trouble.

In my opinion, they deserve it.

mid-90s in financial industry conferences, the consumer dial-up banking
operations were giving presentations on converting to internet
... effectively because of the enormous customer support costs
supporting proprietary dial-up software for large number of operating
systems, versions, different kinds & models of serial port modems, etc
... effectively offloading all those problems on ISPs.

in the same conferences, the cash management/commercial dial-up banking
operations said they would never move to internet, because of a large
number of exploits & vulnerabilities ... many of which continue to this
day (however since then, cash management/commercial dial-up banking have
been moved to internet also).

around decade ago, FEDS started recommending that commercial internet
online banking should have a dedicated (internet) computer that is
*NEVER* used for anything else but online banking (which minimizes some
of the exploits).

other trivia: around the turn of the century there was lots of efforts
to move to token based authentication as countermeasure to
internet exploits. one of the players distributed payment cards with
embedded chips along with ("free") serial-port chip reader (possibly
fire sale for serial-port chip readers being obsoleted by USB
... which was supposed to address many of the serial-port
problems). The resulting severe consumer support problems spawned
rapidly spreading opinion in financial industry that chipcards weren't
practical in the consumer home (internet) market (even tho the
problems were with the serial-port readers, not with the chipcards
(apparently all institutional knowledge of serial-port problems had
evaporated over period of 5rs) ... and industry pull-back from home
consumer chipcard programs.

online dial-up banking posts
http://www.garlic.com/~lynn/submisc.html#dialup-banking

--
virtualization experience starting Jan1968, online at home since Mar1970

IBM Disks

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: IBM Disks
Blog: Facebook
Date: 10 Oct 2018

DASD ... direct access storage device ... when there were drums,
disks, and strips ... and not clear what would dominate in the future.

When I transfer to San Jose Research ,,, they let me wander around
disk plant site, STL programming, HONE and other IBM places in silicon
valley ... and some number of customer sites. At the time,
bldg14&15 (disk engineering and product test) were running
stand-alone, pre-scheduled 7x24 mainframe testing schedules. They had
once tried MVS to see if they could do some concurrent testing, but
MVS had 15min MTBF in that environment. I offer to rewrite IOS to make
in bullet proof and never fail so they can do any amount of on-demand,
concurrent testing. The downside, is that any time they have problem,
they try to blame me and I have to go over and diagnose some problem
they have (increasingly they want me to participate in things like all
conference calls with POK channel engineers). I did do internal report
on the work and happened to mention the MVS 15min MTBF which brings
down the wrath of the MVS group on my head.

Original 3380, 3mbyte/sec transfer, 20 track spacing between each data
track. Double density 3380 (with twice number cylinders) reduces the
space to 10 track spacings, then triple density 3380 (and three times
number cylinders) reduces spacing further. The father of 801/risc
(pc/rt, rs/6000, power, power/pc, etc) wants to do a "wide" disk head
and wants me to help him. The head read/writes 16 data tracks in
parallel with two servo tracks on the edges. The disk is formatted
with one servo track per 16 data tracks (wide head follows servo
tracks on both sides of the 16 data tracks). This not only greatly
increases data density but has the unfortunate side-effect of
increasing transfer speed by factor of 16, from 3mbyte/sec to
48mbyte/sec ... and IBM has no products that support 48mbyte/sec
transfer.

getting to play disk engineer posts
http://www.garlic.com/~lynn/subtopic.html#disk
CKD, FBA, multi-track search posts
http://www.garlic.com/~lynn/submain.html#dasd

--
virtualization experience starting Jan1968, online at home since Mar1970

The rise and fall of IBM

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: The rise and fall of IBM
Blog: Facebook
Date: 11 Oct 2018

Ferguson & Morris, "Computer Wars: The Post-IBM World", Time Books
.... reference to the "Future System" project 1st half of the 70s, was
going to completely replace 370 and 370 efforts were being shutdown,
the lack of 370 products during the period is credited with giving
clone processor makers market foothold:

... and perhaps most damaging, the old culture under Watson Snr and Jr
of free and vigorous debate was replaced with sycophancy and make no
waves under Opel and Akers. It's claimed that thereafter, IBM lived in
the shadow of defeat

...

But because of the heavy investment of face by the top management, F/S
took years to kill, although its wrong headedness was obvious from the
very outset. "For the first time, during F/S, outspoken criticism
became politically dangerous," recalls a former top executive.

... snip ...

I continued to work on 370 stuff all during the FS period, even
periodically ridiculing the FS activity ... which wasn't exactly a
career enhancing activity. Note this has reference to FS ... that
major motivation in FS was to create (complexity and tight
integration) barriers to clone controllers ... however might claim
that they carried the complexity effort so far, that even IBM couldn't
accomplish it.
https://www.ecole.org/en/session/49-the-rise-and-fall-of-ibm
https://www.ecole.org/en/65/CM200195-ENG.pdf

future system posts
http://www.garlic.com/~lynn/submain.html#futuresys

trivia: as undergraduate I rewrote a lot of IBM system software. When
some from the science center came out to the university last week of
Jan1968 to install CP67 ... it had 2741 and 1052 terminal support with
automatic terminal identification. The university had a lot of
ASCII/TTY terminals and I had to extend the automatic terminal
identification support. Then I wanted a single dail-in number (hunt
group pool) for all dail-in terminals. However, it didn't quite work
because while IBM controllers allowed the SAD command to dynamically
change type of port tereminal adapter, line speeds for each port was
hard wired. As a result, the University started a clone controller
project, building channel interface board for Interdata/3 programmed
to emulate IBM terminal controller ... but with dynamic speed
identification. This was then enhanced to an Interdata/4 handling the
channel interface and a cluster of Interdata/3s handling port/line
interfaces. Interdata (and later Perkin/Elmer) start selling this as
clone controller. Four of us get written up for (some part of) clone
controller business.

PCM/OEM clone controller posts
http://www.garlic.com/~lynn/subtopic.html#360pcm

After moving to SJR, bldg14&15 (disk engineering and product
test), suck me into playing disk engineer part time. One of the issues
was CKD was increasingly becoming obsolete and the whole business was
moving to FBA, the biggest inhibitor was MVS. I offerred FBA support
but was told that even if I provided fully integrated and tested FBA
support, that I still needed an extra $26M business case (for
education, training and documentation) ... or about extra $200M-$300M
in sales. However, IBM was then selling disks as fast as they could be
made, and FBA support would just change to the same amount of FBA
disks (no incremental sales) ... and I couldn't use life-time costs as
part of the business case. CKD disks haven't been made for decades,
all being simulated on industry standard fixed block disks (for MVS).

getting to play disk engineer posts
http://www.garlic.com/~lynn/subtopic.html#disk
CKD, FBA, multi-track search posts
http://www.garlic.com/~lynn/submain.html#dasd

Then single processor chips drastically reducing computing costs and
the rise of personal computer were significant disruptive to computing
business, especially threatening to the communication group's dumb
terminal paradigm and install base.

Mid-80s, I get con'ed into working with baby bell that had redid a
VTAM/NCP implementation from scratch on Series/1 with something like
ten times the feature/function/performance of the IBM
implementation. It implemented real networking support out in Series/1
with control of resources out in the Series/1, faking out mainframe
VTAM simulating cross-domain support. I was to package it and release
it as TYPE-1 product, quickly upgrading to RS/6000 platform (for when
RS/6000 was announced). We spent some time with several of the largest
37x5 customers, but they constantly warned us that communication group
was notorious for political tricks. We thought we had brick walled off
every possible thing that the communication group might do, but what
they did next can only be described as truth is stranger than fiction.

parts of presentations
http://www.garlic.com/~lynn/99.html#67
http://www.garlic.com/~lynn/99.html#70

Late 80s, a senior disk engineer got a talk scheduled at internal,
world-wide, annual, communication group conference ... supposedly on
3174 performance ... however he opened his talk with the statement
that the head of the communication group was going to be responsible
for the demise of the disk division. The issue was that the
communication group had stranglehold on datacenters with corporate
strategic ownership of everything that crossed datacenter walls and
were fiercely fighting off distributed computing and client/server,
trying to preserve their dumb terminal paradigm and install base. The
disk division was seeing data fleeing datacenters to more distributed
computing friendly platforms with fall in disk sales. The disk
division had come up with a number of solution to address the
opportunity, but they were constantly being vetoed by the
communication group (with their corporate strategic ownership of
everything that crossed datacenter walls). The mainframe datacenter
stranglehold wasn't just affecting disk sales and a few years later
the company goes into the red.

dumb terminal paradigm and terminal emulation posts
http://www.garlic.com/~lynn/subnetwork.html#terminal

--
virtualization experience starting Jan1968, online at home since Mar1970

OT: Postal Service seeks record price hikes to bolster falling revenues

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: OT:  Postal Service seeks record price hikes to bolster falling revenues
Newsgroups: alt.folklore.computers
Date: Thu, 11 Oct 2018 11:59:54 -0700

hancock4 writes:

CNN reported that the US Postal Service is asking for the biggest
price jump on stamps in its history.  Facing pressure from the Trump
administration to address a revenue shortfall, the Postal Service
on Wednesday proposed raising the price of 1-oz. letters from 50
cents to 55 cents, which would be a record nominal increase if
approved. The price of each additional ounce would go down slightly.

article at:
https://www.cnn.com/2018/10/10/business/us-postal-service-stamp-price-hike/index.html

email and e-commerce has killed a lot of mail volume.  But
postal service cutbacks has discouraged mailers as well.

We still do need a healthy mail system.  Republican policies
have hurt the post office.

2006 congressional law requiring USPS to prefund benefits

USPS Defaults on Billions in Mandatory Payments, Despite Scheduled
Relief
https://www.govexec.com/management/2017/09/usps-defaults-billions-mandatory-payments-despite-scheduled-relief/141404/

The 2006 law requiring the prefunding scheduled the lump-sum payments to
last 10 years, meaning they expired in 2017. USPS must still make its
"normal costs" payments for the retiree health benefits, as well as an
amortization of its future liabilities. It is now also facing amortized
payments to cover its unfunded liabilities in the Civil Service
Retirement System and the Federal Employees Retirement System.

... snip ...

US Postal Service workers have a retiree health care benefit in addition
to their pension. Before Congress passed the Postal Accountability and
Enhancement Act of 2006, the USPS operated under a pay-as-you-go model
for retiree health care funding. The new law requires the Postal Service
to pre-fund its benefit obligations.

... snip ...

trivia: as undergraduate, I was hired as fulltime employee into small
group in the Boeing's CFO office to help with the formation of Boeing
Computer Services (consolidate all dataprocessing into independent
business unit to better monetise the investment, including offering
services for non-Boeing entities). At the time, I thot Renton datacenter
was possibly largest in the world with something like $200M-$300M (60s
dollars) in IBM 360s, with 360/65s arriving faster than they could be
installed, boxes constantly staged in hallways around the machine
room. One of the things I did was online CP67 virtual machine (360/67)
system for CFO office (at the time, they only had a 360/30 for payroll).
They also bring the 360/67 SMP from Boeing Huntsville to Seattle.

After graduation, I join the IBM science center at MIT (rather than
remaining at Boeing). CSC ports APL\360 to CP67/CMS for CMS\APL,
extending workspace (and redoing APL garbage collection) for virtual
memory size (from typical 16kbyte apl\360 size) and adding API for
system services (like file read/write) ... enabling lots of real-world
applications.

By then BCS has office in DC and doing government contracts and one of
the CSC people (offspring of one of the people that discovered DNA)
leaves IBM and joins BCS in Washington DC. I stop by and he shows off he
is doing APL analytical analysis justifying postal stamp one cent
increase.

--
virtualization experience starting Jan1968, online at home since Mar1970

Banking via home computers/internet is a disaster for the computer world

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: Re: Banking via home computers/internet is a disaster for the computer world.
Newsgroups: comp.arch
Date: Thu, 11 Oct 2018 12:27:13 -0700

David Brown <david.brown@hesbynett.no> writes:

It is impossible to make systems that are entirely 100% secure - all you
can do is reduce the risks as much as practical.  Yes, sophisticated
enough malware could access your netbank in this sort of scenario - but
alternatives such as cash have plenty of risks of their own.  It could
be that here in Norway the risk of getting a malware "break-in" to steal
money is higher than in the USA - but the risk of getting a physical
break-in is much, much lower as people rarely have significant cash.

Still, I do all my net banking using a dedicated user on my Linux
machine.  The chances of getting malware on it is not something I am
concerned about.

re:
http://www.garlic.com/~lynn/2018f.html#32 Banking via home computers/internet is a disaster for the computer world.

there was still vulnerabilities were malware has control of your PC
...  and can display incorrect information and monitor/change what is
typed. EU has FINREAD as countermeasure ... external hardened
cardreader with its display and keypad ... we do financial standard
that includes option that not only is the token authenticated ...  but
the cardreader is also authenticated ... giving the level of integrity
that the transaction was performed in (transaction done where both the
transaction environment and the token is authentication has higher
level of trust than just authenticating the token. I get a couple
trips to Brussels to participate in EU FINREAD standards. However, EU
FINREAD is part of collaterial damage from the serial-port fiasco and
financial industry pullback from chipcards/tokens

eu finread posts
http://www.garlic.com/~lynn/subintegrity.html#finread

part of the issue was making the cost to the crook for exploit greater
than any expected ROI ... and have them go someplace else. The
skimming and malware attacks can compromise millions of accounts with
little or no physical effort on the part of the crook.

we had been brought in to help worksmith some cal. state legislation.
At the time they were doing "electronic signature", data breach
notification and "opt-in personal information sharing". Several of
the participants were heavily into privacy issues and done extensive
consumer surveys ... and the #1 issue was identity theft, in the form
of fraudulent financial transactions frequently as result of data
breach.  The issue was that there was little or nothing being done
about breaches and it was hoped that publicity from the breaches would
motivate countermeasures. The problem was that normally
entities take security measures in self-protection, but in case of the
breaches, the institutions were at risk, it was the public.

Part of the financial transaction standard work wasn't to address the
breaches (at least millions of locations around the world), but to
harden the transaction so that crooks weren't able to use information
from breaches (skimming, evesdropping, compromise end-points, etc) to
perform fraudulent financial transactions (eliminating majority of
motivation for the crooks).

past posts
http://www.garlic.com/~lynn/submisc.html#data.breach.notification

--
virtualization experience starting Jan1968, online at home since Mar1970

The rise and fall of IBM

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: The rise and fall of IBM
Blog: Facebook
Date: 11 Oct 2018

re:
http://www.garlic.com/~lynn/2018f.html#34 The rise and fall of IBM

long description of FS in first half of 70s
http://www.jfsowa.com/computer/memo125.htm

folklore is that when FS implodes, some retreat to Rochester and do
greatly simplified FS as S/38. One of the issues is that FS had
scaleup/performance problems ... which greatly affected commercial
dataprocessing ... but not the S/38 target market.

future system posts
http://www.garlic.com/~lynn/submain.html#futuresys

Codd
https://en.wikipedia.org/wiki/Edgar_F._Codd

paper 1970 at San Jose Research ... and SQL/Relational System/R
implementation started on VM370 370/145.

System/R posts
http://www.garlic.com/~lynn/submain.html#systemr

Actual first relational product ships on Multics in June 1976 Multics
was on 5th flr, floor above science center that did virtual machine
cp40 and CP67, internal network, invented GML 1969, other stuff.

science center posts
http://www.garlic.com/~lynn/subtopic.html#545tech

The "official" corporate new database was "EAGLE" ... started during
the FS period. Both IMS and EAGLE were impeding System/R. Finally
while corporation was distracted by EAGLE, was able to get SYSTEM/R
tech transfer to Endicott for SQL/DS (under the "radar"). Then when
EAGLE finally implodes, there was a request how fast could SQL/DS be
ported to MVS ... which eventually ships as DB2 ... originally for
decision support only (not to compete with IMS transaction market).

Part of S/38 simplification was all disks in common pool filesystem
with scatter allocation (pieces of files can appear across all
available disks). Doesn't make any difference for single disk systems,
but as scaleup ... all disks have to be backed up and restored as a
single entity ... any single disk failure requires restoring the
complete filesystem. As systems got larger (more disks), this became
increasing catastrophic process. SJ disk engineer got original RAID
patent in 1978, and because single disk failures was so catastrophic,
S/38 was early RAID adopter.

--
virtualization experience starting Jan1968, online at home since Mar1970

The U.S. Needs to Crack Down on White-Collar Crime

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: The U.S. Needs to Crack Down on White-Collar Crime
Blog: Facebook
Date: 15 Oct 2018

The U.S. Needs to Crack Down on White-Collar Crime; What makes Michael
Cohen different from other fraudsters? He got caught.
https://www.bloomberg.com/view/articles/2018-10-14/white-collar-crime-more-prosecutions-needed

Rhetoric on the floor of congress was that Sarbanes-Oxley would
prevent future ENRONs and guarantee that executives and auditors did
jailtime, however it required SEC to do something. Possibly because
even GAO didn't believe SEC was doing anything, it started doing
reports of public company fraudulent financial reports ... even
showing uptic after SOX goes into effect (and nobody doing
jailtime). Joke was that congress felt so badly that one of the big
accounting firms went out of business, the added stringent audit
processes was just a large gift to the audit industry ... but would
change nothing.

ENRON posts
http://www.garlic.com/~lynn/submisc.html#enron
Sarbanes-Oxley posts
http://www.garlic.com/~lynn/submisc.html#sarbanes-oxley
financial reporting fraud posts
http://www.garlic.com/~lynn/submisc.html##financial.reporting.fraud

Somewhat related, during the congressional Madoff hearings, they had
the person that had tried unsuccessfully for a decade to try and get
SEC to do something about Madoff (SEC's hands were forced when Madoff
turned himself in). Congress asked if new regulations were needed. He
responded that while new regulations might be needed, much more
important was transparency and visibility (possibly because SEC wasn't
doing anything with the regulations they had).

Madoff posts
http://www.garlic.com/~lynn/submisc.html#madoff

Trump Probably Engaged in Felony Tax Evasion
https://therealnews.com/stories/trump-probably-engaged-in-felony-tax-evasion

tax evasion, tax fraud, tax avoidance, tax haven posts
http://www.garlic.com/~lynn/submisc.html#tax.evasion

note bill black S&L scandal, Keating, etc
https://en.wikipedia.org/wiki/William_K._Black

The senators got off with a slap on the wrist, but so enraged was one
of those bankers, Charles Keating -- after whom the senate's so-called
"Keating Five" were named -- he sent a memo that read, in part, 'get
Black -- kill him dead.' Metaphorically, of course. Of course.[5]

... snip ...

VP and former CIA director repeatedly claims no knowledge of
http://en.wikipedia.org/wiki/Iran%E2%80%93Contra_affair
because he was fulltime administration point person deregulating
financial industry ... creating S&L crisis
http://en.wikipedia.org/wiki/Savings_and_loan_crisis
along with other members of his family
http://en.wikipedia.org/wiki/Savings_and_loan_crisis#Silverado_Savings_and_Loan
and another
http://query.nytimes.com/gst/fullpage.html?res=9D0CE0D81E3BF937A25753C1A966958260

S&L crises posts
http://www.garlic.com/~lynn/submisc.html#s&l.crises

last decade (after turn of century) another family member is president
and presides over the economic mess 70 times larger than the S&L
crises. S&L crisis had 1000 criminal convictions with jailtime,
proportionally the economic mess should have 70,000 (criminal
convictions with jailtime), so far nobody.

Economic Mess posts
http://www.garlic.com/~lynn/submisc.html#economic.mess

--
virtualization experience starting Jan1968, online at home since Mar1970

The U.S. Needs to Crack Down on White-Collar Crime

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: The U.S. Needs to Crack Down on White-Collar Crime
Blog: Facebook
Date: 15 Oct 2018

re:
http://www.garlic.com/~lynn/2018f.html#38 The U.S. Needs to Crack Down on White-Collar Crimea
also
http://www.garlic.com/~lynn/2018f.html#26 America's new aristocracy lives in an accountability-free zone

Fed Inspector Turned Whistleblower Reveals System Rigged For Goldman
Sachs
https://www.zerohedge.com/news/2018-10-12/fed-inspector-turned-whistleblower-reveals-system-rigged-goldman-sachs
Goldman Sachs' seedy underbelly exposed in shocking tapes
https://nypost.com/2018/10/11/whistleblowers-new-book-shares-secret-tapes-of-new-goldman-ceo/

whistleblower posts
http://www.garlic.com/~lynn/submisc.html#whistleblower

in the Madoff hearings, they had the person that tried unsuccessfully
for a decade to get SEC to do something about Madoff (SEC hands were
forced when Madoff turned himself in) ... he mentioned that
tips&whistleblower turn up 13 times more fraud than audits.

madoff psots
http://www.garlic.com/~lynn/submisc.html#madoff

--
virtualization experience starting Jan1968, online at home since Mar1970

America's electoral system gives the Republicans advantages over Democrats

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: America's electoral system gives the Republicans advantages over Democrats
Blog: Facebook
Date: 15 Oct 2018

re:
http://www.garlic.com/~lynn/2018f.html#28 America's electoral system gives the Republicans advantages over Democrats
http://www.garlic.com/~lynn/2018f.html#29 America's electoral system gives the Republicans advantages over Democrats

The Man Who Broke Politics; Newt Gingrich turned partisan battles into
bloodsport, wrecked Congress, and paved the way for Trump's rise. Now
he's reveling in his achievements.
https://www.theatlantic.com/magazine/archive/2018/11/newt-gingrich-says-youre-welcome/570832/

But few figures in modern history have done more than Gingrich to lay
the groundwork for Trump's rise. During his two decades in Congress,
he pioneered a style of partisan combat--replete with name-calling,
conspiracy theories, and strategic obstructionism--that poisoned
America's political culture and plunged Washington into permanent
dysfunction. Gingrich's career can perhaps be best understood as a
grand exercise in devolution--an effort to strip American politics of
the civilizing traits it had developed over time and return it to its
most primal essence.

... snip ...

--
virtualization experience starting Jan1968, online at home since Mar1970

The Great Depression II

From: Anne & Lynn Wheeler <lynn@garlic.com>
Subject: The Great Depression II
Blog: Facebook
Date: 17 Oct 2018

The Great Depression II
https://www.zerohedge.com/news/2018-10-16/great-depression-ii

Note the repeal of Glass-Steagall wasn't root cause of economic mess
... it was used as excuse to not hold accountable the institutions
that had become Too Big To Fail (as result of Glass-Steagall repeal)
... and then later when they were found to also be money laundering
for drug cartels and terrorists ... start to see references to Too
Big To Prosecute and Too Big To Jail.

too big to fail ("too big to prosecure", "too big to jail")
http://www.garlic.com/~lynn/submisc.html#too-big-to-fail

1999, I'm asked to help prevent the coming economic mess, some
investment bankers had walked away "clean" from the S&L crises, where
then doing Internet IPO mills (invest a few millions, hype, ipo for a
few billion, should fail to leave the field clear for next round), and
were predicted to get into securitize mortgages. I was to help improve
the integrity of supporting documents as countermeasure. They then
start paying rating agencies for triple-A (when the rating agencies
knew they weren't worth triple-A, from Oct2008 congressional
hearing). Triple-A trumps supporting documents and they can start
doing no-documentation, liar loans. Triple-A significantly contributes
to being able to do over $27T 2001-2008, including selling to
institutions restricted to only dealing in "safe" investments (like
large pension funds).

(triple-a rated) toxic CDO posts
http://www.garlic.com/~lynn/submisc.html#toxic.cdo

Decade later, Jan2009 I was asked to HTML'ize the Pecora Hearings (30s
senate hearings into '29 crash that resulted in Glass-Steagall
and criminal convictions) with lots of internal HREFs and URLs between
what happened this time and what happened then (comments that the new
congress might have appetite to do something). I work on it for awhile
and then get a call saying that it won't be needed after all
(references to capital hill totally buried under enormous mountains of
wallstreet cash).

'29 crash, Pecora Hearings and/or Glass-Steagall posts
http://www.garlic.com/~lynn/submisc.html#Pecora&/orGlass-Steagall
Economic Mess posts
http://www.garlic.com/~lynn/submisc.html#economic.mess

Note, the rhetoric in congress was that Sarbanes-Oxley would prevent
future ENRONs and guarantee that executives and auditors did jailtime,
but it required SEC to do something. Possibly because GAO didn't
believe they were doing anything they started doing reports of public
company fraudulent financial reports, even showing they increased
after SOX goes into effect (and nobody doing jailtime). Less well
known is that SOX also required SEC to do something about rating
agencies, but they did about as much about rating agencies as they did
about public company fraudulent financial reports.

ENRON posts
http://www.garlic.com/~lynn/submisc.html#enron
Sarbanes-Oxley posts
http://www.garlic.com/~lynn/submisc.html#sarbanes-oxley
Financial Reporting Fraud posts
http://www.garlic.com/~lynn/submisc.html#financial.reporting.fraud

In the congressional Madoff hearings, they testimony from the person
that had tried unsuccesfully for a decade to get SEC to do something
about Madoff (SEC's hands were forced when Madoff turned himself in).

Madoff posts
http://www.garlic.com/~lynn/submisc.html#madoff

also rating agencies

A $1 Trillion Powder Keg Threatens the Corporate Bond Market
https://www.bloomberg.com/graphics/2018-almost-junk-credit-ratings/?srnd=fixed-income

The resulting acquisition binge left an unprecedented number of major
corporations just a rung or two from junk credit ratings,

...

But those companies, which have almost $1 trillion of debt, have been
allowed to maintain investment-grade ratings by Moody's Investors
Service and S&P Global Ratings.

... snip ...

--
virtualization experience starting Jan1968, online at home since Mar1970






previous, index - home